Which of the following is true of perfectly competitive firms?
a. It is difficult for entrepreneurs to become suppliers of a product in a perfectly competitive market structure.
b. A perfectly competitive firm has a perfectly elastic supply curve
c. In a perfectly competitive market, an individual seller can change his price and it will not alter the output he sells.
d. None of the above are true.
d
Economics
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If inflation is eight percent, a nominal interest rate of six percent translates into a real interest rate of two percent
Indicate whether the statement is true or false
Economics
Under a negative income tax program, if a minimum income is set at $16,000 for a family of four and the tax rate is 25%, a family earning $8,000 would have an after tax income of
a. $16,000 b. $8,000 c. $22,000 d. $6,000 e. $12,000
Economics