The firm in a perfectly competitive industry is a
A) price taker.
B) price maker.
C) price seeker.
D) price dealer.
Answer: A
Economics
You might also like to view...
What is the relationship between price, marginal revenue, and total revenue for a monopolist?
What will be an ideal response?
Economics
The investment demand curve shows the amount businesses spend for investment goods at different possible:
A. price levels. B. levels of GDP. C. rates of interest. D. levels of taxation.
Economics
When demand is perfectly elastic the entire tax burden falls on the _____.
Fill in the blank(s) with the appropriate word(s).
Economics
Refer to Table 2-17. What is Lucy's opportunity cost of making a tricycle?
A) 3/4 of a wagon B) 1 1/3 tricycles C) 3 wagons D) 2 tricycles
Economics