The essential feature that differentiates imperfectly competitive firms from perfectly competitive firms is that an imperfectly competitive firm:
A. coordinates their output decisions with other firms.
B. produces a good with no close substitutes.
C. faces a downward-sloping demand curve.
D. faces high barriers to entry.
Answer: C
Economics
You might also like to view...
Technological progress should lead to
A) an outward (rightward) shift in the investment function. B) an unchanged investment function. C) a downward movement of the investment function. D) less saving.
Economics
Aggregate demand is the total demand for the final goods and services produced in an economy.
Answer the following statement true (T) or false (F)
Economics