Author Question: The two theoretical extremes of the market structure spectrum are occupied at one end by perfect ... (Read 163 times)

moongchi · **on:** Jun 30, 2018

The two theoretical extremes of the market structure spectrum are occupied at one end by perfect competition and on the other end by monopoly.
a. True
b. False
Indicate whether the statement is true or false

Question 2

A rational consumer will always shift a dollar from a good whose marginal-utility-to-price ratio is lower to one whose marginal-utility-to-price is higher.
a. True
b. False
Indicate whether the statement is true or false