A firm in a perfectly competitive industry is a
A) price taker.
B) quantity taker.
C) profit maker.
D) price maker.
Answer: A
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Which of the following business combinations likely exhibit economies of scope?
A) Banking services for individuals and banking services for other business B) Retail clothing stores and electronic (internet) clothing sales C) Hospitals that perform heart surgery and hospitals that perform cosmetic surgery D) all of the above
If a government-imposed price floor legally sets the price of milk above market equilibrium, which of the following will most likely happen?
a. The quantity of milk demanded will increase. b. The quantity of milk supplied will decrease. c. There will be a surplus of milk. d. There will be a shortage of milk.
Checking accounts are not considered a part of M1 money supply because checks are not legal tender and are usually not accepted as a medium of exchange
Indicate whether the statement is true or false
Which of the following best expresses the equation for holding period return?
A. Current yield + capital gain B. Coupon rate + capital gain C. Current yield + coupon rate D. Yield to maturity - current yield