For firms that sell one product in a perfectly competitive market, the market price:

A. can be influenced by one firm's output decision.
B. is equal to the average total cost of a firm.
C. is taken as a constant by individual firms.
D. is higher than the marginal revenue of a firm


C. is taken as a constant by individual firms.

Economics

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Which of the following is likely to be true when the economy is in a boom?

A) The inflation rate is negative. B) The size of government expenditure multiplier is small. C) The size of government expenditure multiplier is large. D) The unemployment rate is high.

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Hong Kong and Japan have achieved relatively high incomes per capita despite lacking an abundance of natural resources

a. True b. False Indicate whether the statement is true or false

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Suppose the figure below shows Luke's demand curve for check-ups along with the supply curve for check-ups.  What is the marginal cost of one extra check-up?

A. $100 B. $150 C. $200 D. $50

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All ________ economies have been political dictatorships

A) centrally planned B) mixed C) market D) mixed and market

Economics