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Author Question: Sellers in a perfectly competitive market: A) are price takers. B) sell differentiated goods and ... (Read 109 times)

lbcchick

  • Hero Member
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  • Posts: 550
on: Jun 29, 2018
Sellers in a perfectly competitive market:
 
  A) are price takers.
  B) sell differentiated goods and services.
  C) are not allowed to exit the market.
  D) are small in number.

Question 2

The world price of steel is 100 a ton. Before international trade, the price of steel in India is 60 a ton. If India begins trading internationally, the price of steel in India ________ and steel mills in India ________ the quantity they produce.
 
  A) rises; increase
  B) falls; increase
  C) does not change; increase
  D) rises; decrease
  E) falls; decease


deja

  • Sr. Member
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  • Posts: 332
Reply #1 on: Jun 29, 2018
Answer to Question 1

A

Answer to Question 2

A


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