Multiple Choice
In a competitive industry,the competitive firm's profits are
A) independent of the industry in which they compete
B) closely linked to the industry in which they compete
C) determined only by their own differentiated product
D) determined solely by the inelastic demand for their product
Correct Answer:
Verified
Correct Answer:
Verified
Q59: In a competitive industry<br>A)the industry has high
Q60: A risk premium is<br>A)the difference between the
Q61: A sudden fall in the market demand
Q62: If a firm in a perfectly competitive
Q63: A sudden decrease in the market demand
Q65: The indifference principle states that<br>A)If an asset
Q66: Jim has a choice between two jobs.Job
Q67: The main reason(s)monopolies can earn positive profits
Q68: Critical care surgeons get paid higher salaries
Q69: In the long run,a monopoly's<br>A)economic profits are