Which of the following statements is NOT true for a perfectly competitive firm?
A) A firm's demand curve is horizontal.
B) The firm can influence its demand curve by advertising its product.
C) The firm's demand curve is perfectly elastic.
D) The market demand and supply curves determine the market price.
B
Economics
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Economists call the physical cost of changing prices
A) menu costs. B) increasing profits. C) inflationary suffrage. D) the cost of doing business.
Economics
Complete crowding out implies that a government deficit financed by selling bonds to the nonblank public will
A) have no effect on aggregate demand. B) reduce aggregate demand. C) increase aggregate demand. D) reduce aggregate demand in the short run but cause demand to increase in the long run.
Economics