Aperfectly competitive market is a market that meets the conditions of
a. (1) many buyers and sellers, (2) all firms selling identical products, and (3) significant barriers to new firms entering the market.
b. (1) many buyers and sellers, (2) all firms selling identical products, and (3) no barriers to new firms entering the market.
c. (1) many buyers and sellers, (2) all firms selling differentiated products, and (3) no barriers to new firms entering the market.
d. (1) few buyers and sellers, (2) all firms selling identical products, and (3) no barriers to new firms entering the market.

Yael decides that she no longer enjoys her job, and she quits to open a gluten-free, dairy-free kosher bakery. she pays a monthly rent for her store of $2,000. her labor costs for one month are $4,500, and she spends $6,000 a month on nut flours, sugar, and other supplies. yael was earning $2,500 a month working as a bank teller. these are her only costs. her monthly revenue is $14,000. which of the following statements about yael’s costs and profit are correct? correct answer(s) an accountant would say she is earning a monthly profit of $1,500. her implicit costs are $2,500 a month. an economist would tell her that she is experiencing a loss. her total costs are $12,500 a month. her explicit costs include the labor, rent, and supplies for her store. her economic profit is $1,500 a month.

Need true or false 1 2 3 4 5 6 7 8

What would happen to the equilibrium price and quantity of lattés if the cost to produce steamed milk