Author Question: Which of the following is not consistent with perfect competition? a. all firms face the same ... (Read 55 times)

abarnes · **on:** Jun 30, 2018

Which of the following is not consistent with perfect competition?

a. all firms face the same costs.
b. firms cannot determine the price of the goods they sell.
c. the marginal product of labor is diminishing.
d. firms negotiate the same wages for different workers.

Question 2

The real interest rate ________ inflation ________.

A) is unaffected in the long run by; because of the classical dichotomy
B) moves one for one with expected; in the long run
C) always increases with; but because of the Fisher effect lower expected inflation ensues
D) all of the above
E) none of the above