In a purely competitive market, the supplier of goods and services has no control over the market price, because he produces too little to influence market conditions. With no difference between his product and the products (19) his competitors, he will sell nothing if he charges above the ...
Consider the following statement: "If a firm is a price taker, it does not have the ability to control the price of the product it sells." What does this statement mean? Discuss the following statement: If a firm is a price...
The firm is best described as existing in a(n): A. purely competitive market. B. price searcher market. C. monopolistic market structure. 相关知识点: 试题来源: 解析 [答案]A [解析]The firm being described is a price taker firm in a purely competitive market. These firms must sell their...
解析 A The firm being described is a price taker firm in a purely competitive market. These firms must sell their product at the going market price, there are no barriers to entry, and there are a large number of firms that produce a homogeneous product....
In a purely competitive market, individual firms are price takers.B is incorrect. It is in a monopolistic market that there is one sole seller of a product or service so that the firm is the industry.C is incorrect. It is in a monopolistically competitive market that a relatively large ...
Perfect competition is also known as pure competition, where buyers and sellers trade with goods by buying and selling them at the given price. Under the perfect competition, firm is a price taker and the price is determined by industry
price is $31. Because this firm is a purely competitive firm, marginal revenue and average revenue are also $31. Looking at the table above, we can see that at various quantities, the price exceeds the average total cost. This means that at these quantities, the firm will make...
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The Monopolistic Competitive firm is a price maker. a. True b. False True or False: In competitive markets, price exceeds marginal cost; in monopolized markets, price equals marginal cost. True or false? The market for digital cable does not exhibit the two primary ch...
In a purely competitive market,the maximum profit comes at that output where marginal cost equals price.() 答案:正确 你可能感兴趣的试题 多项选择题 区域标志根据生产工序、危险程度的不同可分为()。 A、禁止标志 B、指令标志 C、指示标志