Suppose the equilibrium price in a perfectly competitive industry is $10 and a firm in the industry charges $9 . Which of the following will happen?
a. The firm will not sell any output.
b. The firm will sell less output than its competitors.
c. The firm will make more profit than it could at the $10 price.
d. The firm will make less profit than it could at the $10 price.
e. The firm's revenue will increase and its costs may decrease.
D
Economics
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Indicate whether the statement is true or false
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Which of the following would NOT be a sign that China wants to become a high technology producer?
A) More patents are being sought and granted in China B) Large spending on infrastructure C) Rapid expansion of science, engineering and research D) Less emphasis on education spending
Economics