The order of payment of corporate earnings is bondholders, preferred stockholders, convertible stockholders, and finally common stockholders

In comparing an oligopolistic firm to a perfectly competitive firm it is generally assumed that the price charged by the competitive firm will be higher than the price charged by the oligopolistic firm

Indicate whether the statement is true or false

In the long run in a competitive market,

a. existing firms can increase their plant size, and new firms can enter the market b. existing firms can increase their plant size, but the number of firms is the market is fixed c. new firms can enter the market, but existing firms cannot vary their plant size d. new firms can enter the market, but only if existing firms decrease their plant size in the short run e. existing firms can increase their plant size, only if some other firms exit