When a perfectly competitive industry experiences a demand increase, existing firms will be hurt in the short run.

Perfectly competitive firms have horizontal demand curves.

A perfectly competitive firm is producing at a point where marginal revenue is less than marginal cost. This firm should increase its output.

A competitive firm is producing at a point where price is $32, marginal cost is $18, and average total cost is $37. From this we know that the firm has negative economic profits.

Perfectly competitive firms have demand curves that are perfectly inelastic.

Which of the following is an example of a chemical reaction?

A biologist believes that a certain chemical causes rapid growth in roses. Several roses will be divided into either an experimental group or a control group to test this hypothesis. Which of these scenarios is the best way for the biologist to design the experiment?

The following is an example of what type of reaction: C2H8+ 8O2 → 4H2O + 2CO2

Identify the product(s) in the following chemical equation: 2H2O2 → 2H2O + O2

What is the dependent variable in a scientific experiment?