In perfect competition, a firm’s marginal revenue is the same as the demand curve at high levels of output.
Answer the following statement true (T) or false (F)
False
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A German publishing company buys an American publishing company based in New York. In the U.S. balance of payments accounts, this transaction directly appears in
A) the official settlements account. B) the imports part of the current account. C) the net transfers part of the current account. D) the capital and financial account.
Which of the following is true of an inflationary gap? a. It results in an inflationary increase in the price level of an economy
b. It occurs when an economy's aggregate expenditures are lower than its actual output. c. It results in an increase in the stock of inventories. d. It results in a decrease in input prices.
Describe how marginal costs and marginal product are related and give an example.
What will be an ideal response?
If a constant-cost, perfectly competitive industry experiences an increase in the demand for its product, we would expect
A) only the market price of the good to increase. B) both the market price and quantity supplied to increase. C) decreases in the market price, but increases in quantity supplied. D) only the quantity supplied of the product to increase.