Recent Posts • Latest Topics • Unanswered Questions

If a firm in a perfectly competitive industry lowers its price below the market price, its

jonnyjon

wrote...

Go to Answer

Posts: 450

Rep:

4 years ago

If a firm in a perfectly competitive industry lowers its price below the market price, its

Question 1.

The closest example of a perfectly competitive industry is

▸ casual dining restaurants.

▸ cigarettes.

▸ convenience stores.

▸ alfalfa.

Question 2.

If a firm in a perfectly competitive industry lowers its price below the market price, its

▸ total revenue will increase.

▸ profit will decrease.

▸ sales will drop to zero.

▸ demand curve will become downward sloping.

Textbook

Principles of Economics

Edition: 12^th

Authors: Case, Fair, Oster

Read 77 times

2 Replies

Report

Replies

Answer verified by a subject expert

kiyomika

wrote...

Posts: 409

Rep:

4 years ago

More solutions for this book are available here

Report

Related Topics

jonnyjon Author

wrote...

4 years ago

Thank you

Report

New Topic

Quick Reply

Explore

Post your homework questions and get free online help from our incredible volunteers

889 People Browsing

Start New Topic Take the Tour CoursesNew Study Tools Topics Trending Browse by Textbook

Live Chat

Related Images

254

290

279

Your Opinion

Previous poll results: Who's your favorite biologist?

The Toxic Skin and Fungi Defense

Courses by Biology Forums

Bonobos, Chimpanzees, and the 98% DNA Link

It's sore throat season, why does my mucus have red spots?

Strange Ingredients Lurking in Doritos Chips

Ready to ask a question on Biology Forums? Try it out

Join Our Community

Biology Forums - Study Force is a free online homework help service catered towards college and high school students. Get homework help and answers to your toughest questions in biology, chemistry, physics, mathematics, engineering, accounting, business, humanities, and more. Master your assignments quickly with thousands of step-by-step solutions to countless textbook questions asked and answered by our members. If we don't have your question, don't worry. You can ask any homework question and get expert homework help in as little as two hours.

Our extensive online study community is made up of college and high school students, teachers, professors, parents and subject enthusiasts who contribute to our vast collection of study resources: textbook solutions, study guides, practice tests, practice problems, lecture notes, equation sheets and more. With our help, your homework will never be the same!

Join for free today

How is Biology Forums - Study Force different than tutoring?

Home Search Q & A Board Gallery Resource Library Blog Dictionary Chat	Quick Links Start a Topic Latest Topics Unanswered Questions Courses Study Tools Browse by Textbook	Social Facebook YouTube Community Stats Who's Online Trending Staff	Help About Us Take the Tour Study Tips Posting Guidelines Terms and Policies Contact Us
Biology Forums - Study Force © 2010-2024 \| Powered by SMF \| SMF © 2015, Simple Machines \| Sitemap Biology-Forums.com is not affiliated with any publisher. Book covers, title and author names appear for reference only.