Which of the following observations is true?
a. Monopolistically competitive sellers are price takers
b. Monopolistically competitive sellers treat price in the same manner as in perfect competition.
c. Monopolistically competitive sellers regard price as a given by market conditions.
d. Monopolistically competitive sellers are price makers.
d
Economics
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In the above figure, if the price is $16 per unit, how many units will a profit maximizing perfectly competitive firm produce?
A) 0 B) 20 C) 30 D) 35
Economics
The self-correcting tendency of the economy means that falling inflation eventually eliminates:
A. exogenous spending. B. recessionary gaps. C. expansionary gaps. D. unemployment.
Economics