An individual firm in perfect competition can exercise a significant control over the market price of the good
a. True
b. False
Indicate whether the statement is true or false
False
Economics
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Which is a stock variable?
A) Labor B) Profit C) Income D) Capital E) Price
Economics
Which of the following does not involve exports and imports?
A. Current account. B. Capital account. C. Balance of trade. D. Net exports.
Economics
Personal income will equal disposable income when:
A. Corporate profits are zero B. Personal taxes are zero C. Transfer payments are zero D. Social Security contributions are zero
Economics
Elizabeth Savoca estimated that for every 1 percent increase in tuition costs at a college, 2.4 percent fewer students applied to that college. This indicates that the elasticity of applying to college is:
A. unit elastic. B. elastic. C. perfectly inelastic. D. inelastic.
Economics