For firms that sell one product in a perfectly competitive market, the market price:
A. can be influenced by one firm's output decision.
B. is equal to the average total cost of a firm.
C. is taken as a constant by individual firms.
D. is higher than the marginal revenue of a firm
C. is taken as a constant by individual firms.
Economics
You might also like to view...
A government policy that taxes saving in order to discourage saving and encourage spending will
A) slow economic growth. B) speed economic growth. C) create a greater incentive for people to specialize. D) strengthen people's property rights. E) increase the growth rate of capital.
Economics
Settlers often received 50 acres of land for each person whose passage they paid to America. This was known as
a. a special purpose grant. b. an entailment. c. the headright system. d. planter's shares.
Economics