A very large number of small sellers who sell identical products imply
A) the inability of one seller to influence price.
B) a multitude of vastly different selling prices.
C) a downward sloping demand curve for each seller's product.
D) chaos in the market.
A
You might also like to view...
A short run total cost schedule is a _________ cost schedule shifted upward by the amount of ________ cost.
A) total fixed; marginal B) marginal; total variable C) total variable; total fixed D) total variable; marginal
What is the main belief of utilitarianism?
a. People make rational choices by comparing marginal benefits with marginal costs. b. Utility varies from individual to individual depending on specific preferences. c. Society should seek the greatest happiness for the greater number. d. Society should utilize its resources better by distributing them more equally.
Refer to the data. The marginal cost of the fourth unit of output is:
Answer the question on the basis of the accompanying table that shows average total costs (ATC) for a manufacturing firm whose total fixed costs are $10:
A. $2.
B. $12.
C. $37.
D. $16.
If the interest rate is 3 percent, to get back $500 in two years you would need to deposit ________ today.
A. $242.72. B. $471.30. C. $485.44. D. $494.00.