In comparing an oligopolistic firm to a perfectly competitive firm it is generally assumed that the price charged by the competitive firm will be higher than the price charged by the oligopolistic firm

Indicate whether the statement is true or false

FALSE

Economics

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The long-run supply curve in a constant-cost, perfectly competitive industry is

A) perfectly inelastic. B) upward sloping. C) downward sloping. D) perfectly elastic.

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Economics

Wealth and income are the same

Indicate whether the statement is true or false

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Economics