In perfect competition, an individual firm
A) faces unitary elasticity of demand.
B) has a price elasticity of supply equal to one.
C) faces a perfectly elastic demand.
D) has perfectly elastic supply.
C
Economics
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Suppose the desired reserve ratio is 10 percent. If Urban Bank has total deposits of $1000 and total assets of $10,000, the amount of desired reserves is
A) $9,000. B) $900. C) $100. D) $1,000. E) $1,100.
Economics
What are the possible benefits of collusion to a firm?
What will be an ideal response?
Economics