Under the theory of perfect competition, firms and buyers know the availability and prices associated with all products in the market
a. True
b. False
Indicate whether the statement is true or false
True
Economics
You might also like to view...
An U.S. firm buys a new industrial sewing machine from a company located in France. Which of the following is TRUE?
I. U.S. net exports decrease. II. U.S. investment increases. A) only I B) only II C) both I and II D) neither I nor II
Economics
Suppose that macaroni and cheese is an inferior good and the price of macaroni and cheese rises. Explain the income and substitution effects of this price change
What will be an ideal response?
Economics