Just like a monopolist, a monopolistically competitive firm:
A. sets the price according to marginal revenue and marginal cost; the demand curve doesn't matter.
B. cannot sell additional units of output without lowering the price.
C. is a price taker.
D. faces a perfectly elastic demand curve.
Answer: B
You might also like to view...
Voting in accordance with one's true preference is called
A) ballot manipulation. B) strategic voting. C) naive voting. D) the voting paradox.
If the national debt is strictly an internal debt, then
a. the amount of the debt places a burden on the generation that repays the debt b. the amount of taxes used to pay the interest on the debt equals the interest payments to the bond holders, and there is no national debt burden c. the amount of taxes used to pay the interest on the debt equals the interest payments to the bond holders creating a national interest-created debt burden d. the amount of the debt places a burden on the generation when the debt is incurred because it reduces the amount of consumption e. the amount of taxes used to pay the debt is paid by future generations, which shifts the burden of the debt from the present to the future generation
Barter transactions typically take place between two individuals with the same goods to supply
a. True b. False Indicate whether the statement is true or false
an increase in marginal tax rates will
What will be an ideal response?