The firm in a perfectly competitive industry
a. is a price-taker
b. is a price-maker
c. attempts to differentiate his/her product through advertising
d. will earn an economic profit in the long run
e. can charge any price it wishes
A
Economics
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Refer to the figure above. What is the equilibrium rate of interest when the credit demand curve is CD2 and the credit supply curve is CS1?
A) 3% B) 4% C) 5% D) 2%
Economics
Which one of the following is not a possible barrier to entry high enough to keep competing firms out of a monopoly industry?
A) The monopoly firm has control of a key resource necessary to produce a good. B) There are important network externalities in supplying a good or service. C) large economies of scale that result in a natural monopoly D) a high concentration ratio
Economics