The demand curve for the product of a perfectly competitive firm is
A) downward sloping.
B) upward sloping.
C) perfectly inelastic.
D) perfectly elastic.
Answer: D
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Which statement is true?
A. The National Football League, Major League Baseball, and the National Basketball Association are all monopsonies. B. Professional baseball, basketball, and football all used to be monopsonies, but ceased to be with the emergence of free agent bargaining. C. Professional sports are not now, nor ever were monopsonies. D. None of these statements are true.
Which of the following is NOT an example of a negative externality?
A. Noise from a neighbor's motorcycle as he prepares to ride to work at 5a.m. B. Fertilizer on a farmer's field that enters a river and promotes algae growth and kills fish downstream C. Secondhand cigarette smoke D. Damage to homes and businesses caused by a forest fire ignited by lightning
Economists who believe in activist policymaking argue that
A. only planned changes in the money supply impact the economy. B. decreases in aggregate demand definitely impact the economy in the short run. C. decreases in aggregate demand impact the economy only in the long run. D. only increases in the minimum wage levels improve economic well-being.
Monetary policy is expected to have its greatest impact on:
A. X n . B. I g . C. C. D. G.