Answer:
1. True
2. False
Explanation:
A perfect competition is characterised by many buyers and sellers of homogenous goods and services. Market prices are set by the forces of demand and supply. There are no barriers to entry or exit of firms into the industry.
In the long run, firms earn zero economic profit. If in the short run firms are earning economic profit, in the long run firms would enter into the industry. This would drive economic profit to zero.
Also, if in the short run, firms are earning economic loss, in the long run, firms would exit the industry until economic profit falls to zero.
An example of perfect competition is the market for farm produce.
I hope my answer helps you
Answer:
Explanation:
This could be due a number of factors.
1 Externality effect
2 There could also be market failure, when property rights are not properly defined.
Externality is the effect of a third party on a property right, when all parties cannot come to an agreeable resolution on properties this could lead to inefficient use of land.
Also when the property rights are not put in place its difficult to come to a resolution that satisfies all parties.
Based on the information given the maturity value of the note is: $82,500.
Using this formula
Maturity value of note=Principal amount+(Principal amount× Number of year× Interest rate)
Where:
Principal amount=$75,000
Number of year=2 year
Interest rate=5% or 0.05
Let plug in the formula
Maturity value of note=$75,000+($75,000×2 year×0.05)
Maturity value of note=$75,000+$7,500
Maturity value of note=$82,500
Inconclusion the maturity value of the note is: $82,500.
Learn more about maturity value of note here:brainly.com/question/24374294
Based on economic indices, when we want to measure wage inflation in the labor market, we use the "<u>Consumer Price Index."</u>
The consumer price index, often referred to as CPI, is conducted by the <u>Bureau of Labor Statistics. </u>
CPI is carefully made to measure the price changes encountered by urban consumers.
It is believed that the urban dwellers formed about 93 percent of the United States population.
Consumer Price Index is used to measure the relationship between wage and inflation.
Hence, in this case, it is concluded that the correct answer is "Consumer Price Index."
Learn more here: brainly.com/question/8416975
