For the perfectly competitive firm, price
A) equals average revenue and marginal revenue.
B) equals average total cost.
C) changes as output changes.
D) depends on the fixed cost for the firm.
Answer: A
You might also like to view...
As interest rates rise, the expected absolute return of money ________, money's expected return relative to bonds ________
A) does not change; decrease B) rises; decrease C) does not change; increase D) falls; decrease
If the level of autonomous spending in an economy increases at a given price level, _____
a. the aggregate expenditure line shifts upward and the economy moves upward along the aggregate demand curve b. the aggregate expenditure line shifts downward and the economy moves upward along the aggregate demand curve c. the aggregate expenditure line shifts upward and the aggregate demand curve shifts to the right d. the aggregate expenditure line shifts downward and the aggregate demand curve shifts to the left e. the aggregate expenditure curve shifts upward and the aggregate demand curve shifts to the left
As the level of real interest rates rise, the amount of new investment will rise also
a. True b. False Indicate whether the statement is true or false
People's willingness to buy an iPhone or Android phone depends on how popular the smartphone format is among other consumers. This is an example of
A. the prisoners' dilemma. B. a network effect. C. a cartel. D. an opportunity cost.