For firms that sell one product in a perfectly competitive market, marginal revenue is always:
A. greater than market price.
B. less than market price.
C. the same as market price.
D. equal to average total cost.
C. the same as market price.
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Explain the shapes of the demand curve for reserves and the supply curve of reserves
What will be an ideal response?
A firm deciding to hire a secretary, bases its decision on how well the candidate is trained on certain software. This practice addresses:
a. Adverse selection b. Moral hazard c. Forced bankruptcy d. None of the above
Monopolistic competition differs from perfect competition only in the number of firms participating in the market
a. True b. False Indicate whether the statement is true or false
Market failures:
A. can always be corrected through government action. B. lead to a desired allocation of resources. C. are sometimes made worse by government failures. D. can never be corrected through government action.