Diane Rae is a farmer in the perfectly competitive industry of sugar cane. She knows that she can sell more output than she currently does
a. only by lowering the price of her sugar cane
b. only if she is able to drive out some of her competition
c. without affecting the market price
d. by raising the barriers to entry so that more of the market is left to those like herself who are already in the industry
e. only if she can develop a patent on sales
C
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A single-price monopoly can sell 2 units for $8.50 per unit. In order to sell 3 units, the price must be $8.00 per unit. The marginal revenue from selling the third unit is
A) $24.00. B) $8.50. C) $7.00. D) $6.50. E) $17.00.
The quantity demanded of a good reflects
A) the number of units of a good people actually purchase. B) the number of units of a good suppliers will provide. C) the number of units of a good people plan to purchase at different prices. D) the number of units of a good people need to purchase.
A firm's total cost in the short run is the sum of its fixed cost plus its variable cost plus its marginal cost
Indicate whether the statement is true or false
If the Apple corporation sells a bond it is
a. borrowing directly from the public. b. borrowing indirectly from the public. c. selling shares of ownership directly to the public. d. selling shares of ownership indirectly to the public.