Ben is a chicken farmer and is in a market that has no product differentiation. We know that for Ben's firm, its demand curve is not the market demand curve
a. although both are downward sloping
b. and its price is greater than its marginal revenue
c. and it is a price taker
d. and is not downward sloping
e. and it is a price maker
D
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Explain which of the following government policies would tend to make more sense in terms of consumer protection: The licensure of interior designers or the licensure of pharmacists
What will be an ideal response?
The most common tool of analysis in international finance for measuring the average value of a currency relative to several other currencies is
A) bilateral exchange rates. B) cross exchange rates. C) exchange rate indexes. D) All of above.
When a person's income doubles, her consumption of each good will double in order for her to stay in consumer equilibrium
a. True b. False Indicate whether the statement is true or false
Answer the following statements true (T) or false (F)
1. The aggregate demand curve is the sum of individual demand curves in the economy. 2. Aggregate demand curves tend to be very flat. 3. Higher prices reduce the purchasing power of financial assets owned by households. 4. Net exports are excluded in the calculation of the national income. 5. As disposable income increases, the total amount of planned consumption increases.