In which of the four market structures do sellers act as price takers?
A) Perfect competition
B) Monopolistic competition
C) Monopoly
D) Oligopoly
A
Economics
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Marginal revenue is equal to:
A) the change in price divided by the change in output. B) the change in quantity divided by the change in price. C) the change in P x Q due to a one unit change in output. D) price, but only if the firm is a price searcher.
Economics
The level of potential GDP does not change because the factors determining potential output are fixed in the short run
Indicate whether the statement is true or false
Economics
People who always choose not to participate in fair games are called:
a. risk takers. b. risk averse. c. risk neutral. d. broke.
Economics
What factors constitute the primary determinants of income?
What will be an ideal response?
Economics