In competitive markets,
a. firms produce identical products.
b. no individual buyer can influence the market price.
c. no individual seller can influence the market price.
d. All of the above are correct.
d
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Should the government run the health care system?
What will be an ideal response?
Given the market demand and cost data in the above figure, the existence of two firms equal sized firms producing a total of 8 million cubic feet of natural gas means that the long-run average cost of producing natural gas is
A) 10 cents per cubic foot. B) 20 cents per cubic foot. C) 30 cents per cubic foot. D) 40 cents per cubic foot.
Owners of a corporation ________ through dividend payments on shares of that firm's stock
A) share in the profits of the firm B) retain earnings of the firm C) indirectly finance the firm D) issue bonds for the firm
If the Bank of Japan buys yen to prevent the yen from appreciating,
a. it is probably also trying to profit from that operation b. it is probably also trying to maintain an interest rate target c. it is engaging in bilateral arbitrage d. it is engaging in a managed float e. it is wasting its time and effort