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Author Question: Firms serve similar functions to A) courts. B) governments. C) markets. D) all of these ... (Read 26 times)

piesebel

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on: Jun 30, 2018
Firms serve similar functions to
 A) courts.
  B) governments.
  C) markets.
  D) all of these choices.

Question 2

Economists believe that oligopolists like American Airlines and the Kellogg Company:
 a. make price and output decisions without regard to what their competitors might do.
 b. have no perceptible influence on the market price, but choose output where marginal revenue equals the marginal cost of production.
  c. carefully watch and anticipate the moves of their competitors.
 d. have no control over market but produce output to the point where demand equal marginal cost.


katara

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Reply #1 on: Jun 30, 2018
Answer to Question 1

C

Answer to Question 2

c


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