Author Question: Perfectly competitive firms and monopolists are different because a. in perfect competition MC = P, ... (Read 27 times)

Shelles · **on:** Jun 30, 2018

Perfectly competitive firms and monopolists are different because
a. in perfect competition MC = P, while a monopolist produces where P > MC.
b. in perfect competition MC = P, while a monopolist produces where MC > P.
c. in perfect competition P > MC, while a monopolist produces where MC = P.
d. in perfect competition MC > P, while a monopolist produces where MC = P.

Question 2

If international trade is restricted by the government of a country:
a. the domestic consumers are benefited.
b. the domestic producers are adversely affected.
c. the domestic consumers pay higher prices for imported goods.
d. the resources are equally distributed among domestic and foreign producers.
e. the resources are allocated to their highest paid uses.