If a perfectly competitive firm raises its price, its sales ...

[xclash]

If a perfectly competitive firm raises its price, its sales decrease to zero.
 a. True
  b. False

Question 2

Which of the following describes the market structure of monopoly?
 a. many firms with some control over price, and considerable product differentiation
  b. many firms with no control over price, producing identical products with no differentiation
  c. a few firms with some control over price, producing similar products which are close substitutes
  d. a few firms with no control over price, producing highly differentiated products
  e. a single firm producing all of the output for the industry

[samiel-sayed]

Answer to Question 1

A

Answer to Question 2

E

[xclash]

Thank you

[samiel-sayed]

No problemo