This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: A firm that is a price taker can: a. substantially change the market price of its product by ... (Read 107 times)

captainjonesify

  • Hero Member
  • *****
  • Posts: 543
on: Jun 30, 2018
A firm that is a price taker can:
 a. substantially change the market price of its product by changing its level of production.
  b. sell all of its output at the market price.
  c. sell some of its output at a price higher than the market price.
  d. decide what price to charge for its product.

Question 2

The price elasticity of demand coefficient for a good will be lower:
 a. if there are few substitutes for the good.
  b. if expenditure on it is a small part of one's budget.
  c. both a and b are true.
  d. neither a nor b are true.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

jsm54321

  • Sr. Member
  • ****
  • Posts: 328
Reply #1 on: Jun 30, 2018
Answer to Question 1

b

Answer to Question 2

c


captainjonesify

  • Hero Member
  • *****
  • Posts: 543
Reply #2 on: Jun 30, 2018
Thank you :)


jsm54321

  • Sr. Member
  • ****
  • Posts: 328
Reply #3 on: Jun 30, 2018
Happy to help you


« previous next »
 

Did you know?

The Romans did not use numerals to indicate fractions but instead used words to indicate parts of a whole.

Did you know?

Multiple experimental evidences have confirmed that at the molecular level, cancer is caused by lesions in cellular DNA.

Did you know?

It is believed that humans initially contracted crabs from gorillas about 3 million years ago from either sleeping in gorilla nests or eating the apes.

Did you know?

Opium has influenced much of the world's most popular literature. The following authors were all opium users, of varying degrees: Lewis Carroll, Charles, Dickens, Arthur Conan Doyle, and Oscar Wilde.

Did you know?

One way to reduce acid reflux is to lose two or three pounds. Most people lose weight in the belly area first when they increase exercise, meaning that heartburn can be reduced quickly by this method.

Marx's Model of Historical Change Marx's Model of Historical Change
How to use the product rule to find the derivative of a function How to use the product rule to find the derivative of a function
Reconstruction Drawing of Trajan's Market Reconstruction Drawing of Trajan's Market
Climate change by international treaty Climate change by international treaty
For each function f(x) = 6x^2 - 4, estimate the instantaneous rate of change for the given ... For each function f(x) = 6x^2 - 4, estimate the instantaneous rate of change for the given ...
If a graph has the following x-intercepts, which value of x is the instantaneous rate of change ... If a graph has the following x-intercepts, which value of x is the instantaneous rate of change ...
Video: Bone Growth and Remodeling

For a complete list of videos, visit our video library