A firm that operates in a perfectly competitive market
a. controls its own price, but accepts its output level as given
b. controls both its own price and its own output level
c. controls its own output level, but accepts its price as given
d. accepts both its output level and its price as given
e. controls its own price, its own output level, and its own costs
C
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Which of the following banned most proprietary trading by commercial banks?
A) Consumer financial Protection Bureau B) Regulation Q C) Greenspan rule D) Volcker rule
Based on the data in Table 2-7, recessions in the U.S. are
a. irregular in length but evenly spaced. b. rare. c. regularly spaced and regular in length. d. irregular in length and irregularly spaced.
The term federal funds market refers to the market for overnight interbank reserve loans
a. True b. False Indicate whether the statement is true or false
Inmates at the federal penitentiary at Lompoc, California, accepted packages of mackerel in exchange for goods and services. What function do these packages of mackerel perform?
A) They function as a store of value. B) They function as a medium of exchange. C) They function as a unit of account. D) They function as a factor of production.