A perfectly competitive firm has no control over the price that it charges.
Answer the following statement true (T) or false (F)
True
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In order to reduce market risk associated with bonds held in inventory, a dealer can
A) take a long position in bond futures. B) take a short position in bond futures. C) purchase bonds at the mark-to-market settlement price. D) use settlement by offset procedures.
When accounting profits are zero, which of the following is most likely to be true?
A. Economic profits could be zero. B. Economic profits could be positive. C. Economic profits are negative. D. All of these are likely.
Which of the following terms describes a restrictive practice that involves forcing the purchase of a second good when purchasing another good?
a. Exclusive dealing b. Predatory pricing c. Tying d. Bundling
Market failure is said to occur whenever:
A. private markets do not allocate resources in the most economically desirable way. B. prices rise. C. some consumers who want a good do not obtain it because the price is higher than they are willing to pay. D. government intervenes in the functioning of private markets.