This table shows price and quantity produced for a single firm in a perfectly competitive market.PriceQuantity$1023$1024$1025$1026Given the information in the table shown, what is the market price?
A. $2
B. $20
C. $260
D. $10
Answer: D
You might also like to view...
When a market clearing price is determined
A) the exchange between buyers and sellers is voluntary. B) the exchange between buyers and sellers is directed by outside factors such as the government. C) the exchange between buyers and sellers benefits only the buyers. D) the exchange between buyers and sellers benefits only the sellers.
What are the three most important factors of production?
Marietta buys a certain type of soap among many choices because she trusts the brand. The soap manufacturer is most likely ______.
a. part of monopolistic competition b. a monopoly c. part of perfect competition d. an oligopoly
Explicit price fixing:
A. is illegal in the U.S. and in the European Union. B. is illegal only in the United States. C. is illegal only if the firms engage in punishment strategies. D. has not occurred in recent years.