A perfectly competitive firm
a. can increase total revenue by raising its price
b. can sell more goods by lowering its price
c. can sell more goods by raising its price
d. cannot increase sales or total revenue by changing its price
e. typically tries to offer lower prices than rival firms
D
Economics
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Large countries tend to be more open than small countries
Indicate whether the statement is true or false
Economics
From any point within the production possibilities frontier,
A) the only way to increase production of one good is to decrease production of the other. B) it is possible to increase both people's utility. C) it is possible to increase output of both goods. D) any move will necessarily decrease production of some good.
Economics