The firm in a perfectly competitive industry is a

A) price taker.
B) price maker.
C) price seeker.
D) price dealer.


A

Economics

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If the area between the line of equality and the Lorenz curve is 1,000, the Gini ratio is

A) 0.8. B) 0.2. C) 0.1. D) 0.5.

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The primary effect of an inheritance tax is _____

a. to encourage the liquidation of assets b. provide significant government revenue c. encourage capital formation d. the encouragement of pre-death asset transfers

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Which one of the following colonial groups actually benefited from the Navigation Acts?

a. Southern tobacco farmers b. New England shipbuilders c. colonists who bought goods imported from non-imperial sources d. No colonial group benefited from the Navigation Acts.

Economics

In the Sherman Antitrust Act, the phrase “restraint of trade” referred to ______.

a. tariffs and taxes b. boycotts ad embargoes c. overproduction and surplus d. price fixing and collusion

Economics