In the dominant firm model, the fringe firms
A) are price takers.
B) maximize profit by equating average revenue and average cost.
C) determine their price and output before the dominant firm determines its price and output.
D) all of the above
E) none of the above
A
Economics
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If a bank's net worth is negative, then the bank definitely is
A) liquid. B) insolvent. C) illiquid. D) solvent.
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If purchasing-power parity holds, the price level in the U.S. is 140, and the price level in Canada is 120, which of the following is true?
a. the real exchange rate is 120/140. b. the real exchange rate is 140/120. c. the nominal exchange rate is 120/140 d. the nominal exchange rate is 140/120
Economics