QUESTION 1
A firm in a perfectly competitive market does not choose:
a. the amount of output...
Business, 09.12.2020 20:40 blackkiki5588
QUESTION 1
A firm in a perfectly competitive market does not choose:
a. the amount of output to produce
O b. the price to charge for its product
c. the method of production it will use to produce its product
O d. all of the above
QUESTION 2
Which of the following firms is most likely to be in a perfectly competitive industry?
a. a car producer
O b. an airline firm
O c. a soybean farmer
d. a hair salon
QUESTION 3
1
Which of the following statements are true for a perfectly competitive firm that is seeking to maximize profits?
a. the best production choice is at a quantity where price is below marginal
Answers: 3
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