A perfectly competitive firm can:
A. affect the market price for its good.
B. sell as much as it can produce at the market price.
C. prevent entry of other firms into their market.
D. collude with its competitors to set prices.
Answer: B
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In a one-stage game:
A. at least one participant observes a choice by another participant before making some decision. B. each participant makes all of his choices before observing any choice by any other participant. C. at least one participant makes his choice before observing the choices made by other participants. D. one participant has full information of the other players' choices before making his choice.
Par value is the
A. Increase in the market value of an asset. B. Amount to be repaid when the bond is due. C. Rate of interest to be paid on a bond. D. Same as the risk premium on a bond.