A firm that faces a downward sloping demand curve is known as a
A. price taker.
B. price searcher.
C. utility maximizer.
D. perfect competitor.
Answer: B
You might also like to view...
Your textbook authors argue that, other things constant, entrepreneurs respond to a fall in interest rates by
A) paying less attention to long term profitability. B) engaging in irrational business behavior. C) investing in capital goods. D) making all of the above choices.
"Demand" refers to the relationship between the price of a good and the quantity consumers are willing and able to buy at each price
Indicate whether the statement is true or false
Specialization and trade can take place only if a country is endowed with more of something compared to other countries
a. True b. False Indicate whether the statement is true or false
Which of the following policies would be most likely to reduce the efficiency of a country's economic organization?
a. a legal structure that establishes secure property rights b. imposition of tariffs and other barriers limiting international trade c. competitive markets d. a stable monetary system