In a perfectly competitive industry, influence over price is exerted by
a. individual sellers.
b. individual buyers.
c. the largest firms.
d. the forces of supply and demand.
d
Economics
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An unexpected fall in the Producer Price Index should send bond prices __________ and stock prices __________
A) up; up B) up; down C) down; up D) down; down
Economics
If a profit-maximizing firm is a price taker in both the input and output markets, its marginal revenue product of labor is given by
a. the price of its output times labor's marginal physical productivity. b. the marginal value product of labor. c. the marginal revenue product of capital times the ratio of the wage rate to the rental rate on capital. d. all of the above.
Economics