A perfectly competitive firm:
a. cannot choose its own price.
b. can increase the price of a good in order to increase its revenue
c. can decrease the price of a good in order to increase its share in the market.
d. cannot choose to produce the quantity it wants.
a
Economics
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In the 2-factor, 2 good Heckscher-Ohlin model, trade will ________ the owners of a country's ________ factor and will ________ the good that uses that factor intensively
A) benefit; abundant; export B) harm; abundant; import C) benefit; scarce; export D) benefit; scarce; import E) harm; scarce; export
Economics
Refer to the diagram. Point b would be explained by:
A. an actual rate of inflation that exceeds the expected rate.
B. an actual rate of inflation that is less than the expected rate.
C. cost-push inflation.
D. an increase in long-run aggregate supply.
Economics