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Author Question: The market-clearing price is: a. the price at which the market is in equilibrium. b. the price at ... (Read 146 times)

kshipps

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The market-clearing price is:
 a. the price at which the market is in equilibrium.
  b. the price at which mutually beneficial trade take place.
  c. the price at which sellers earn the maximum profit.
  d. the price at which consumer surplus is zero.

Question 2

The only decision that a perfectly competitive firm makes is:
 a. what price to charge.
  b. what quantity to produce.
  c. how much to spend on advertisements.
  d. how much to discriminate on the basis of price.
  e. how to differentiate its products from its rivals.



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cuttiesgirl16

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Answer to Question 1

A

Answer to Question 2

b





 

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