Firms in perfect competition have no control over
a. all of the following
b. where to operate on their average total cost curves
c. what price to charge
d. how many inputs to use
e. how much to produce
C
Economics
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If there is an increase in the price of the final good that an industry produces, the labor demand curve in the industry is likely to:
A) shift to the left. B) shift to the right. C) become vertical. D) become horizontal.
Economics
The above figure shows the marginal social benefit and marginal social cost curves of doughnuts in the nation of Kaffenia. What is the marginal social cost of producing the 200th dozen doughnuts each day?
A) $10.00 per dozen B) $8.00 per dozen C) $6.00 per dozen D) $4.00 per dozen
Economics