2. A perfectly competitive firm is said to face a perfectly elastic demand curve a. List 2 reasons why the price elasticity is so high under perfect competition (two characteristics of perfect competition): b. List two examples of different types of barriers to entry (where only one can be dependent on government enforcement):
2. A perfectly competitive firm is said to face a perfectly elastic demand curve a. List 2 reasons why the price elasticity is so high under perfect competition (two characteristics of perfect competition): b. List two examples of different types of barriers to entry (where only one can be dependent on government enforcement):
Microeconomics A Contemporary Intro
10th Edition
ISBN:9781285635101
Author:MCEACHERN
Publisher:MCEACHERN
Chapter10: Monopolistic Competition And Oligopoly
Section: Chapter Questions
Problem 4QFR
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