Firms cannot resemble
A) incomplete contracts.
B) democracies.
C) an organization without externalities.
D) a benevolent dictator.
B
Economics
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The income elasticity of demand is defined as the percentage change in quantity demanded divided by the percentage change in price
a. True b. False Indicate whether the statement is true or false
Economics
If firms in a monopolistically competitive market are earning positive profits, then
a. firms will likely be subject to regulation. b. barriers to entry will be strengthened. c. some firms will exit the market. d. new firms will enter the market.
Economics