We know that a perfectly competitive firm is a price taker because
A) its MC curve slopes upward.
B) its ATC curve is U-shaped.
C) its demand curve is horizontal.
D) MC and ATC are equal at the profit-maximizing amount of output.
E) it has no supply curve.
C
Economics
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Refer to Table 10-1. Using the table above, what is the approximate average annual growth rate from 2013 to 2016?
A) 1% B) 1.5% C) 2% D) 3%
Economics
Economists generally believe that
a. buyers and sellers have all the information they can use b. additional information is costly to acquire c. decision makers have complete knowledge of all the alternatives available d. economic decisions result from random behavior e. decision makers never make mistakes
Economics