Pure Competition ANSWERS TO END-OF-CHAPTER QUESTIONS 21-1 Briefly state the basic characteristics of pure competition‚ pure monopoly‚ monopolistic competition‚ and oligopoly. Under which of these market classifications does each of the following most accurately fit? (a) a supermarket in your hometown; (b) the steel industry; (c) a Kansas wheat farm; (d) the commercial bank in which you or your family has an account; (e) the automobile industry. In each case justify your classification. Pure competition:
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Thyme Uses: Rub chopped leaves (fresh or dried) into beef‚ lamb‚ veal‚ or pork before roasting. Sprinkle over eggs‚ cheese dishes‚ vegetables‚ fish‚ or poultry. Add to soups‚ stews‚ stuffings‚ and rice. Brew into tea with a little rosemary and mint. Tarragon Uses: Chop the anise-flavored leaves for use in soups‚ salads‚ egg dishes‚ stews‚ and soft cheeses. Excellent with lamb. Serve in melted butter with fish‚ steak‚ or vegetables. Constituent of tartar sauce and many chutneys. Makes good
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Today is my birthday and I’m on holiday with my parents. We had been on the plane for three hours‚ then we had been on what seemed to be the longest journey ever‚ to the ski-resort in the French Alps. As I went downstairs to breakfast‚ I looked out of the windows and saw the mountains beaming at me. I felt the butterflies fluttering in my stomach. Mum and Dad were already eating breakfast‚ Mum had orange juice‚ apparently she’s on another diet. "Happy Birthday Anna" they cheered in unison. I had
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Directions: Read the article‚ “A Summary of Health Outcomes: Multistate Foodborne Disease Outbreaks in the U.S.‚ 1998-2007‚” and answer the questions below. • Answers must be complete sentences. • The assignment must be typed and submitted on Tuesday‚ February 19th prior to the exam. 1. What is a multistate FBDO? Multistate FBDO is a outbreaks that either spread to other states or originate from the same vector in multiple states at the same time.
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The "Gentleman" in Ivan Bunin’s‚ "The Gentleman from San Francisco"‚ believes that he deserves his happiness because “…first he was rich‚ and second‚ despite his fifty-eight years‚ he was just about to enter the stream of life’s pleasures” (Bunin‚ pg. 447). This man represents the archetype of a Western Capitalist and leads a shallow life investing his entire life into accumulating a comfortable wealth and establishing a family. The gentleman feels this entitlement because he has followed this ‘poshlost’
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Life is truly short‚ so we have to know how to enjoy with moments of our life. There are many interesting and attractive things around us. These things make the days of us to become wonderful. For me‚ the most wonderful day is the day that I can live and share my life with my family and my friend. I am usually busy with my work and my study‚ so I do not have enough time for my family. This is the reason; the wonderful day of me is the day that I will have a vacation with my family and my friend’s
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Two Thanksgiving Gentleman by O. Henry O. Henry is one of the most famous American short story writers. O. Henry’s real name was William Sydney Porter and he was born in Greensboro‚ North Carolina on September 11‚ 1862. O. Henry’s short stories are famous for their surprise endings and humor. O. Henry’s wrote such classic short stories as The Ransom of Red Chief‚ “The Gift of the Magi” and “The Furnished Room”. His stories often have characters from opposite society levels: the wealthy and
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“The Glass Menagerie” is an excellent drama that focuses on three different issues all within one story. The crafty way the writer relates the issues of each individual within the issues of another individual shows the writer put forth a lot of effort when using his imagination. The answers were easy to spot when one wants to figure out how the characters ended up the way that they are by identifying the underlying hurt within each character. The best way to explain the how easy it was to grasp
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In her poem “One Perfect Rose‚” Dorothy Parker misleads the reader throughout the first and second stanzas into believing this poem is a romantic tribute to a tender moment from her past through her word choice and style of writing. However‚ the tone of the entire poem dramatically changes upon reading the third and final stanza when Parker allows the reader to understand her true intention of the poem‚ which is a cynical and perhaps bewildered view of the memory. And‚ with this shift in the tone
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CHAPTER Perfect Competition 11 After studying this chapter you will be able to ! Define perfect competition ! Explain how firms make their supply decisions and why they sometimes shut down temporarily and lay off workers ! Explain how price and output in an industry are determined and why firms enter and leave the industry ! Predict the effects of a change in demand and of a technological advance ! Explain why perfect competition is efficient The Busy Bee The busy
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