Is the firm a perfect competitor or an imperfect competitor?


Imperfect competitor

Economics

You might also like to view...

Which of the following can be a barrier to entry?

i. ownership of a necessary input ii. requiring a government license iii. large diseconomies of scale A) i only B) ii only C) i and iii D) i and ii E) i, ii, and iii

Economics

For the following question, assume the following facts:

(1 ) Chase (which is located in the United States) has a 20% reserve requirement imposed by the government. (2 ) Bank of Germany has no reserve requirements. (3 ) Both banks may invest at an 8% interest rate. (4 ) Both banks have fixed costs of $3 per deposit made. What is the difference between the minimum interest rates each bank can offer and still make a profit if the deposit is $500 for 1 year? A) 0 - Both banks can offer the same rate. B) 1% C) 1.6% D) 0.4% E) 20%

Economics

The decision by inflation targeters to choose inflation targets ________ zero reflects the concern of monetary policymakers that particularly ________ inflation can have substantial negative effects on real economic activity

A) below; high B) below; low C) above; high D) above; low

Economics

How does the cross elasticity of demand differ from the price elasticity of demand? How are they related?

What will be an ideal response?

Economics