Perfectly competitive firms are price setters.
Answer the following statement true (T) or false (F)
False
You might also like to view...
All of the following would be included in aggregate expenditure except
A. social security payments. B. changes in inventories. C. sales of domestically produced goods to foreigners. D. purchases of services provided by government employees.
The marginal product of the fourth worker is
A) 150 units of output. B) 24 units of output. C) negative. D) 36 units of output.
Under the VAR assumptions, the OLS estimators are
A) consistent and have a joint normal distribution even in small samples. B) BLUE. C) consistent and have a joint normal distribution in large samples. D) unbiased.
Jessica owns a company that makes pre-packaged sandwiches for convenience stores. The market price for a sandwich is $5 and Jessica is a price-taker. Her daily cost for making sandwiches is C(Q) = 2.5Q + (Q2/40) and her marginal cost is MC = 2.5 + (Q/20). How many sandwiches should Jessica produce each day?
A. 20 B. 40 C. 45 D. 50