Compared to a monopolist, the demand curve for a perfectly competitive firm will be
A. as elastic.
B. less elastic.
C. unitary elastic.
D. more elastic.
Answer: D
You might also like to view...
Which of the following happens if the Fed buys bonds from a private bank?
A) The Fed's total liabilities remain unaffected. B) The private bank's total assets remain unchanged. C) The private bank's composition of assets remain unchanged. D) The Fed's total assets decrease.
Which of the following tax structures creates a disincentive to earn more?
a. Proportional tax structure b. Regressive tax structure c. Digressive tax structure d. Progressive tax structure e. A combination of proportional and regressive tax structure
The largest single expenditure component of GDP is: a. consumption
b. investment. c. government purchases. d. net exports.
Can the same principles that have been used in the study of advanced economies be used to study less developed economies as well? Explain your answer
What will be an ideal response?