Small firms can never achieve market power.
Answer the following statement true (T) or false (F)
False
Market power isn't necessarily associated with firm size-in other words, a small firm could possess a lot of power in a relatively small market.
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In a centrally planned economy, the households and firms decide how economic resources will be allocated
Indicate whether the statement is true or false
Unlike brokers, securities dealers
A) operate in secondary markets. B) risk capital losses. C) trade "used" securities. D) operate in primary markets.
The combinations of inputs costing a constant C dollars is called:
a. an isocost line b. an isoquant curve c. the MRTS d. an isorevenue line e. none of the above
Refer to the diagram. At output level Q total variable cost is:
A. 0BEQ.
B. BCDE.
C. 0CDQ.
D. 0AFQ.