In the short run, we assume that the number of firms in a perfectly competitive market:
A. varies if perfect information is present.
B. is fixed.
C. is equal to the number of firms in the long-run.
D. varies more than the long-run equilibrium.
Answer: B
Economics
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A country's domestic currency's real exchange rate, q, is best described by
A) the price of similar goods in the same market. B) the price of the domestic basket in terms of the foreign one. C) the price of a domestic basket. D) the price of the foreign basket in terms of the domestic basket. E) the price of different goods baskets in the same market.
Economics
According to the World Bank, developing countries greatly outnumber industrial countries
a. True b. False Indicate whether the statement is true or false
Economics