In price-taker markets, individual firms have no control over price. Therefore, the firm's marginal revenue curve is
a. a downward-sloping curve.
b. indeterminate.
c. constant at the market price of the product.
d. precisely the same as the firm's total revenue curve.
C
Economics
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When individuals form an alliance to ensure that all members will volunteer in case of a volunteer's dilemma, this is called
A) compulsory volunteerism. B) coalition building. C) bargaining. D) eminent domain.
Economics
The labor force consists of:
a. people more than 20 years old and who are looking for work. b. people more than 16 years of age and older working or looking for work. c. all adults above 18 years of age with job skills. d. all working adults employed for more than forty hours a week.
Economics