Multiple Choice
Which of the following is not a characteristic of a perfectly competitive market structure?
A) The firm is a price-taker.
B) The firm is a profit maximizer.
C) The firm's demand curve is horizontal.
D) The market demand is downward sloping.
E) The firm can earn an economic profit in the long run.
Correct Answer:
Verified
Correct Answer:
Verified
Related Questions
Q68: Craig quit a job earning $12,000 per
Q69: The demand curve facing a firm in
Q70: If a firm makes normal profit, the
Q71: A firm in a perfectly competitive market<br>A)
Q72: The entry of new firms into a
Q74: Sally owns a beauty shop that generates
Q75: For a monopolist, MR can never be
Q76: According to George Stigler, the monopolist is
Q77: When all perfectly competitive firms in a
Q78: A meatball sandwich vendor finds that when