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Author Question: A(n) _____ perceives the demand for its own output as horizontal at the market price, so it can ... (Read 64 times)

charchew

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on: Jun 30, 2018
A(n) _____ perceives the demand for its own output as horizontal at the market price, so it can produce as much or as little as it wants without affecting that price.
 a. oligopolist
  b. monopsonist
  c. monopolist
  d. perfect competitor

Question 2

Above-normal profits earned by existing firms in a perfectly competitive market will eventually lead to:
 a. exit of the firms from the market.
  b. an increase in the market price of the good.
  c. entry of new firms into the market.
  d. a decrease in the aggregate supply.
  e. the existing firms emerging as price makers.


mcni194

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

D

Answer to Question 2

c


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