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In 3 or 4 sentences, explain why prices decrease when a market moves from a monopoly to perfect competition
Weegy: Price under perfect competition is determined by the forces of demand and supply of the industry. [ The price once fixed up by the industry is taken up by all the firms and the firm can sell any number of units at hat price. [ The firm may earn normal profits, super normal profits in the short run whereas it earns normal profits in the long run. ] ] (More)
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Asked 1/28/2013 8:28:52 AM
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In 1 or 2 sentences, explain how a government pays for expenses that are more than its revenues.
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Updated 1/28/2013 12:35:17 PM
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The Treasury must sell Treasury bonds to raise the money to cover the deficit. This is known as the public debt, since these bonds are sold to the public. In addition to the public debt, there is the money that the government loans to itself each year. This money is in the form of Government Account Securities, and it comes from the Social Security Trust Fund.
Added 1/28/2013 12:35:17 PM
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In a market without price controls, producers can charge the _____, so that consumers will buy all of their products.
Weegy: In a market without price controls, producers can charge the EQUILIBRIUM PRICE, so that consumers will buy all of their products. (More)
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Asked 1/28/2013 7:59:38 AM
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In 1 or 2 sentences, describe which is greater: gross pay or net pay.
Weegy: Gross pay is great because it has not had taxes and deductions withdrawn from it. (More)
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Asked 1/28/2013 8:20:40 AM
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