In the short run, only a limited number of new firms may enter a perfectly competitive market.
Answer the following statement true (T) or false (F)
False
You might also like to view...
What is the difference between positive analysis and normative analysis?
What will be an ideal response?
If demand is inelastic and price is lowered, total revenue will
A. rise. B. fall. C. stay the same. D. possibly rise or possibly fall.
M2 includes
A. just cash held by the public. B. currency, checkable accounts, traveler's checks, small CDs, and money market accounts. C. currency plus checkable accounts and traveler's checks. D. cash held by banks and by the public plus deposits at the Federal Reserve.
Between 2000 and mid-2005, the value of the U.S. dollar expressed in Chinese yuan
A. was zero because it was illegal to sell yuan. B. remained essentially constant. C. decreased precipitously. D. increased sharply.