Which among the following does not determine the shape of the demand curve for a good under different market structures?
a. Number of substitutes in the market
b. Importance of the good in a consumer's budget
c. Cost structure of the firm
d. Price-elasticity of demand
e. The length of time being considered
c
You might also like to view...
Compared to the U.S. production function, the European production function is
A) lower. B) the same. C) higher. D) lower than the U.S. production function at low levels of employment and higher than the U.S. production function at high levels of employment. E) higher than the U.S. production function at low levels of employment and lower than the U.S. production function at high levels of employment.
Dumping is defined as the situation in which
A) foreign producers sell a product at a price below the cost of production. B) domestic producers are protected by tariffs. C) domestic producers sell a product at prices below the cost of production. D) foreign producers sell a product at a price above a fair level. E) domestic producers cut production to drive up domestic prices.
Critically evaluate the following statement. "Monopolists are able to pass on the full amount of any increase in their fixed cost to the consumer in the form of higher prices."
What will be an ideal response?
IPOs have become very important in the U.S. economy because they are a major source of financing for
A) so-called "blue-chip" companies. B) hedge funds. C) internet companies. D) mutual funds.