For firms that sell one product in a perfectly competitive market, the market price is:
A. constant, regardless of quantity sold.
B. equal to average revenue for a firm.
C. equal to marginal revenue for a firm.
D. All of these are true.
D. All of these are true.
Economics
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Which of the following firms is most likely to spend on innovation?
A) A perfectly competitive firm B) A monopoly with absolutely no competition C) A firm that is the only controller of a key resource necessary for production D) A firm that enjoys some monopolistic power, but faces strong competition from its rivals
Economics
In comparison to commodity money, paper money
a. is not portable. b. has no intrinsic value. c. is not divisible. d. cannot be stored. e. All of the above are correct.
Economics