A purely competitive firm is a price maker, but a monopolist is a price taker.
Answer the following statement true (T) or false (F)
False
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What is a necessary condition for being categorized as unemployed?
A) Being homeless B) Actively searching for a job C) Having no source of income D) Having no hope of finding a job in the foreseeable future
Which of the following statements is most accurate about ownership of household goods, such as flush toilets, refrigerators, televisions, clothes dryers and automobiles?
a. In 2005, very few "officially poor" Americans owned these goods. b. The same proportion of Americans who were officially poor owned these goods in 2005 in comparison to 1950 . The proportion of officially poor Americans who owned these goods in 2005 was equal to the proportion of all households who owned these goods in 1950. c. A higher proportion of "poor" Americans owned these goods in 2005 compared to the proportion of all U.S. households who owned these goods in 1950. d. The proportion of Americans at the poverty level who owned these goods in 2005 was exactly double the proportion of all households who owned these goods in 1950.
When the economy experiences a bust, the government knows exactly which policies will spur an economic recovery
a. True b. False Indicate whether the statement is true or false
A shift to the right in the demand curve for product A can be most reasonably explained by saying that:
A. consumer incomes have declined, and consumers now want to buy less of A at each possible price. B. the price of A has increased and, as a result, consumers want to purchase less of it. C. consumer preferences have changed in favor of A so that they now want to buy more at each possible price. D. the price of A has declined and, as a result, consumers want to purchase more of it.