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Author Question: Both individual buyers and sellers in perfect competition A) can influence the market price by ... (Read 97 times)

genevieve1028

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on: Jun 29, 2018
Both individual buyers and sellers in perfect competition
 
  A) can influence the market price by their own individual actions.
  B) can influence the market price by joining with a few of their competitors.
  C) have the market price dictated to them by government.
  D) have to take the market price as a given.

Question 2

Refer to Table 13-1. What portion of the marginal revenue of the 4th unit is due to the output effect and what portion is due to the price effect?
 
  A) output effect = -0.50; price effect = 5.00 B) output effect = 24.00; price effect = 19.50
  C) output effect = 6.00; price effect = -1.50 D) output effect = 6.50; price effect = 2.00


Carissamariew

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Reply #1 on: Jun 29, 2018
Answer to Question 1

D

Answer to Question 2

C


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