Perfectly competitive firms are said to be "small." Which of the following best describes this smallness?
A) The individual firm must have fewer than 10 employees.
B) The individual firm faces a downward-sloping demand curve.
C) The individual firm has assets of less than $2 million.
D) The individual firm is unable to affect market price through its output decisions.
D
Economics
You might also like to view...
What is perfect price discrimination? Is perfect price discrimination efficient? Why or why not?
What will be an ideal response?
Economics
Large countries can improve their welfare by levying a tariff only if it does not
A) encourage rent seeking elsewhere in the economy. B) discourage innovation. C) lead to retaliation by the nation's trading partners. D) All of the above. E) None of the above.
Economics