--%>

Characteristics of Perfectly Competitive Firms

Perfect competition is characterized by all of the following except w) heavy advertising by individual sellers. x) homogeneous products. y) sellers are price takers. z) a horizontal demand curve for individual sellers.

Can anybody suggest me the proper explanation for given problem regarding Economics generally?

   Related Questions in Business Economics

  • Q : Unpredictable and frequent fluctuations

    Adam Smith attributed unpredictable and frequent fluctuations within profits to: (i) variations in the prices of the goods a firm or person produces and sells. (ii) the bad or good fortune of rivals. (iii) the good or bad fortune of customers. (iv) tr

  • Q : Recycling center Suppose you go to a

    Suppose you go to a recycling center and are paid 25 cents per pound for your aluminum cans.  However, the recycler charges you $.20 per bundle to accept your old newspapers.

  • Q : Meaning of Economic Development

    Question Discuss what "economic development" means in the context of this game? (Hint: How do you win, and what do you have at the end of the game that you did not have at the beginning of the game?)

  • Q : Perfect Competition leads to Allocative

    A perfectly competitive industry achieves allocative efficiency since: w) goods and services are produced at the lowest possible cost. x) services and goods are produced up to the point where the last unit gives a marginal benefit to consumers equivalent to the margin

  • Q : Illustrate the term Economic Rationale

    Illustrate the term Economic Rationale?

  • Q : Contrast a vertically integrated firm

    Contrast a vertically integrated firm, a horizontally integrated firm, and a conglomerate?

  • Q : Explain determining the types of the

    Explain determining the types of the various products that will be produced?

  • Q : What do you mean by Financial Linkages

    What do you mean by Financial Linkages in U.S. and World Trade?

  • Q : Who is a normal resident Normal

    Normal resident: The persons or an institution who lives in a country and whose centre of interest lies in that country is termed as a normal resident of that country.

  • Q : Exchange and Specialization I have a

    I have a problem in economics on Exchange and Specialization. Please help me in getting the right answer from the following question. Sarah the wheat farmer would be most probable to trade for fruit from the Kathy's orchard if: (i) Sarah's opportunity