A firm that has a branded product is
A. not likely to be in perfect competition.
B. always in perfect competition.
C. likely in perfect competition.
D. always a price taker.
Answer: A
You might also like to view...
The difference between Gross National Product and Net National Product is the
A. rate of inflation. B. statistical discrepancy encountered in calculating GDP. C. difference between real versus nominal GDP. D. depreciation of the economy’s capital stock.
The table above gives the cost of producing T-shirts. The total fixed cost is ________ and the marginal cost of increasing production from 5 to 6 T shirts is ________
A) $20; $6 B) $20; $10 C) $10.40; $8 D) unable to be determined; $8
Most research suggests that the elasticity of the labor supply with respect to taxes is:
A. very low for most people. B. very high for most people. C. highly variable across people. D. unpredictable in most settings.
Which of the following is a reason to think that government action may not be valuable to improve market outcomes with asymmetric information?
a. The private market can sometimes deal with information asymmetries using signaling and screening. b. The government rarely has more information than the private parties. c. Government actions have their own imperfections. d. All of the above are correct.