Ben is a chicken farmer and is in a market that has no product differentiation. We know that for Ben's firm, its demand curve is not the market demand curve
a. although both are downward sloping
b. and its price is greater than its marginal revenue
c. and it is a price taker
d. and is not downward sloping
e. and it is a price maker
D
Economics
You might also like to view...
To say that turnips are inferior goods means that the income elasticity
A) is definitely greater than 1. B) is definitely between 0 and 1. C) is positive but could be greater than or less than (or equal to) 1. D) is negative.
Economics
The Baumol-Tobin analysis suggests that an increase in the brokerage fee for buying and selling bonds will cause the demand for money to ________ and the demand for bonds to ________
A) increase; increase B) increase; decrease C) decrease; increase D) decrease; decrease
Economics