In pure competition, the demand for the product of a single firm is perfectly:

A. Elastic because the firm produces a unique product
B. Inelastic because the firm produces a unique product
C. Elastic because many other firms produce the same product
D. Inelastic because many other firms produce the same product

C. Elastic because many other firms produce the same product

Economics

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When inflation begins to rise, people can prevent their wealth from deteriorating by doing all of the following except

A) holding more cash. B) converting their cash into foreign currencies. C) spending their cash on goods and services. D) investing in financial instruments such as stocks or precious metals.

Economics

Forcing a natural monopoly to charge P = MC will not work

Indicate whether the statement is true or false

Economics