The typical firm in the US economy
a. has some degree of market power.
b. sells its product for a price that is equal to the marginal cost of producing the last unit.
c. is perfectly competitive.
d. is a monopoly.
a
Economics
You might also like to view...
The International Monetary Fund advised Russia to control inflation via an exchange rate anchor
a. True b. False
Economics
Because monopolists are protected by high barriers to entry, they:
A. may be able to earn long-run economic profits. B. will not minimize the per-unit cost of producing their output. C. will price their product at the highest possible price. D. seek economic profit; however, they are not able to earn it in the long run.
Economics