If a firm in a perfectly competitive market raises its price:
a. it will sell less but earn more revenue.
b. it will sell less but earn the same revenue.
c. it will sell exactly the same amount.
d. it will sell less or more depending on elasticity.
e. it will sell nothing.
e
You might also like to view...
If a Pigovian tax is too large, the resulting:
A. quantity will be too high. B. outcome will not maximize surplus. C. outcome will still be efficient. D. All of these statements are true.
Why are command- and -control regulations less flexible than incentive based systems?
What will be an ideal response?
A ______ economy is an economy in which the government uses central planning to coordinate most economic activities
a. traditional b. command c. mixed d. market
The primary signal to policy makers that the economy has exceeded potential output is typically:
A. stagflation. B. unemployment. C. deflation. D. inflation.