In the above figure, if the market is competitive and unregulated, the price will be
A) $20 per unit.
B) $15 per unit.
C) $10 per unit.
D) $5 per unit.
C
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Because it is the only firm operating in a particular market, a monopolist is guaranteed to earn an economic profit
Indicate whether the statement is true or false
A temporary negative supply shock ________ real interest rates and ________ output in the short run, thereby its effect on stock prices is ________
A) raises; lowers; negative B) raises; raises; ambiguous C) lowers; raises; negative D) lowers; raises; positive
Technical superiority can be a source of entry barriers.
Answer the following statement true (T) or false (F)
At the competitive firm's profit-maximizing quantity of labor:
A. marginal profits are always positive. B. the value of the last worker's marginal product is greater than or equal to marginal cost of that input. C. the average product of labor is equal to the wage rate. D. the value of the last worker's marginal product is less than the marginal cost of that input.