Is the firm a perfect competitor or an imperfect competitor?
Imperfect competitor
You might also like to view...
If the money price of hats rises and no other prices change, the I. relative price of a hat rises. II. opportunity cost of a hat rises
A) only I B) both I and II C) only II D) neither I nor II
The reason Airbus succeeded in the Brander Spencer example is that
A) Boeing made the first move in this strategic game. B) Europeans tend to be better strategists than corn-fed Americans. C) the Airbus actually was a better plane than the Boeing 747. D) U.S. laws actually prohibit U.S. exporters from bribing foreign officials. E) the subsidy removed the advantage that Boeing gained with their head start in production.
Suppose exports and imports both rise by $1. GDP
A) rises by $2. B) rises by $1. C) remains unchanged. D) falls by $1. E) falls by $2.
Skateboards are produced according to the production function, q = 10K0.25L0.5 - L. At what quantity of labor does total product begin to decline given that capital is fixed at 16 units in the short-run?
A) L = 100. B) L = 10. C) L = 5. D) Not enough information is given.