Which of the following statements is true for both Microsoft and a locally owned restaurant?

A. Both confront perfectly elastic demand for their products.
B. Both are perfect competitors.
C. Both seek to maximize profits.
D. Neither firm is able to influence the price of their products.


Answer: C

Economics

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a. federal funds rate. b. discount rate. c. reserved rate. d. investment rate. e. check rate

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a. True b. False Indicate whether the statement is true or false

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Firms still have the incentive to cheat even after a game leads to cooperation

Indicate whether the statement is true or false

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