The behavior of an individual perfectly competitive firm has a perceptible influence on the market price
a. True
b. False
Indicate whether the statement is true or false
False
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Technical efficiency
A) ignores the values of the chooser. B) is a necessary precondition for the attainment of economic efficiency. C) is always attained if economic efficiency is achieved. D) is attained whenever the ratio of physical output to physical input is greater than unity. E) is easier to achieve than economic efficiency.
The risk of financing a project by issuing common stock is borne by
A. the issuing firm only. B. the stockholders only. C. both the issuing firm and the stockholders. D. the government.
Julia prepares tax returns and does bookkeeping. Last year her revenues from the tax and bookkeeping business were $150,000 . and her expenses for the business were $15,000 . When she started her tax and bookkeeping business, Julia gave up her supplemental job doing in-home pet sitting. She used to earn $10,000 per year from pet sitting. Assume that she incurred no costs for her pet sitting
business. Julia's explicit costs are a. 0. b. $10,000. c. $15,000. d. $25,000.
When the government privatizes a common resource, it does all of the following except:
A. increases efficiency. B. forces the owner to consider all the costs and benefits of their consumption choices. C. creates excludability. D. increases undesirable side effects.