If you wish to rely on fundamental analysis to choose a portfolio of stocks, then you have no choice but to do all the necessary research yourself
a. True
b. False
Indicate whether the statement is true or false
False
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The tax revenue received by a government from a sales tax is larger if demand is relatively more elastic
a. True b. False Indicate whether the statement is true or false
The actual burden of a tax
a. falls most heavily on the side of the market that is more elastic. b. falls most heavily on the side of the market that is more inelastic. c. falls most heavily on the side of the market that is closest to unitary elasticity. d. is distributed independently of relative elasticities of supply and demand.
Why does a firm in a competitive industry charge the market price?
a. If a firm charges less than the market price, it loses potential revenue. b. If a firm charges more than the market price, it loses all its market power. c. The firm can only sell limited number of units of output, so it wants to sell at the market price in order to lower its costs. d. All of the above are correct.
In perfect competition, the product of a single firm
A) has many perfect complements in consumption produced by other firms. B) is sold to different customers at different prices. C) is sold under many differing brand names. D) has many perfect substitutes in consumption produced by other firms.