Does a competitive firm have the ability to influence the quantity of output it supplies? Does it have the ability to influence its average revenue?
A competitive firm has the ability to influence the quantity of output it supplies, but it does not have the ability to influence the price (average revenue).
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If real GDP was 100 in 2015 and 104.4 in 2016, the growth rate of real GDP between 2015 and 2016 was
A) 2.2 percent. B) 4.4 percent. C) 100 percent. D) 102.2 percent.
Explain how deposit insurance contributed indirectly to the savings and loan crisis of the 1980s
What will be an ideal response?
According to the Swiss Institute for Management Development, the top country in terms of productive efficiency is
A) Germany. B) Japan. C) Switzerland. D) the United States.
Giffen goods are
a. normal goods for which the income effect dominates the substitution effect. b. normal goods for which the substitution effect dominates the income effect. c. inferior goods for which the income effect dominates the substitution effect. d. inferior goods for which the substitution effect dominates the income effect.