A(n) _____ perceives the demand for its own output as horizontal at the market price, so it can produce as much or as little as it wants without affecting that price
a. oligopolist
b. monopsonist
c. monopolist
d. perfect competitor
D
Economics
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The table above gives the demand schedule for snow peas. The price elasticity of demand between $6.00 and $7.00 per bushel is
A) 1.0. B) 2.0. C) 2.6. D) 5.0.
Economics
Refer to Figure 15-2. To maximize profit, the firm will produce at output level
A) Q1. B) Q2. C) Q3. D) Q4.
Economics
The final consumer demand for chicken (normal good) in China will NOT shift if
A. consumer income decreases. B. more consumers are present in the market. C. the price of chicken decreases. D. either A or B occurs.
Economics
The study of how benefits are determined for city employees would be considered
A. macroeconomics. B. microeconomics. C. institutional economics. D. descriptive economics.
Economics