This producer
A. is a perfect competitor.
B. is an imperfect competitor.
C. could be either a perfect or imperfect competitor.
B. is an imperfect competitor.
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If real GDP in year 1 is $72 million and real GDP in year 2 is $87 million, then the growth rate of real GDP is
A) 15 percent. B) $15 million. C) 20.8 percent. D) 17 percent. E) 83 percent.
At a price of $11, quantity demanded is 90; and at a price of $9, quantity demanded is 110. Since total revenue ________ by the price decrease, demand must be ________.
A. is decreased; inelastic B. is unchanged; elastic C. is increased; elastic D. is unchanged; unit elastic
Refer to the table below. To increase output from 99 to 132 units requires ________ extra employee-hours; to increase output from 132 to 165 units requires ________ extra employee-hours.OutputPer DayNumber ofEmployeeHours Per Day00331662994132716511
A. 11; 18 B. 4; 3 C. 3; 4 D. 7; 11
Long-term customer relationships ________ the cost of information collection and make it easier to ________ credit risks
A) reduce; screen B) increase; screen C) reduce; increase D) increase; increase