Answer:
Ease of entry into the market
Explanation:
A perfect competition is characterised by many buyers and sellers of homogenous goods and services.
In the long run, perfect competition make zero economic profit because if firms are making economic profits in the short run , new firms would enter into the industry in the long run. This is made possible because of the ease of entry into the market.
I hope my answer helps you
Answer:
D. asymmetric information.
Explanation:
Owners of defective used cars have more information about the condition of their vehicles than potential buyers of those used cars. This is an example of an asymmetric information.
An asymmetric information can be defined as a situation wherein there's an imperfect flow of information or knowledge between the buyer and the seller of a product; sellers having more knowledge than the buyer of a product.
<span>a. not counted as part of the labor force</span>
I am not very sure but I believe that the correct answer is True.
Answer:
Opportunity cost is the benefit that is foregone for an individual by choosing one alternative over other alternatives available to him.
If the opportunity cost is lower for an individual then this will benefit him whereas if the opportunity cost is higher then this will not benefit the individuals.
We know that if a person stay at home and eat delicious home-cooked then he must use some ingredients to cook food.
Therefore, the opportunity cost of eating the home-cooked meal is five-dollar Burger Joint gift card and the value of ingredients that are use in the home-cooked food.
