In a competitive market, the actions of any single buyer or seller will
a. discourage entry by competitors.
b. influence the profits of other firms in the market.
c. have a negligible impact on the market price.
d. Both a and b are correct.
c
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Use the following graph for a competitive market to answer the question below.
For a price floor to be effective and alter the market situation, it must be set
A. at $15. B. below $15. C. at $10. D. above $15.
Which of the following would NOT be a factor that has contributed to the rising female labor force participation rate?
A) greater access to training B) greater access to education C) increasing family size D) reduction of barriers to competing with men for jobs
Why is the right of private property an essential characteristic of a market system?
Please provide the best answer for the statement.
When a second firm enters a monopolist's market:
A. the former monopolist's average cost decreases as its output level decreases. B. the demand curve the former monopolist faces shifts to the left. C. the market price rises as the average cost increases. D. None of these