Monopolistically competitive sellers are price takers

a. True
b. False
Indicate whether the statement is true or false

False

Economics

You might also like to view...

A nation can gain from imposing a tariff on imports if it forces exporting countries

a. to raise their prices to pay the tariff. b. to lower their prices to avoid stocks of unsold goods. c. to produce at diseconomies of scale. d. to accept some imports from the tariff-imposing nation.

Economics

Refer to the given figure and assumptions. How many domestic-born (and legal immigrant) workers will be hired at equilibrium?



Assumptions: (1) Employers in this market are willing and able to ignore minimum wage laws;
(2) S d represents the supply of domestic-born (and legal immigrant) workers; (3) S t represents
the total supply of workers in this labor market (S d plus illegal immigrants); and (4) unless
otherwise stated, illegal immigration is not effectively blocked by the government.

A.  20,000.
B.  50,000.
C.  60,000.
D.  70,000.

Economics