« previous next »

Author Question: A firm in a price-taker market: a. must take the price that is determined in the market. b. must ... (Read 77 times)

kshipps

  • Hero Member
  • *****
  • Posts: 571
on: Jun 30, 2018
A firm in a price-taker market:
 a. must take the price that is determined in the market.
  b. must reduce its price if it wants to sell a larger quantity.
  c. must be large relative to the total market.
  d. can exert a major influence on the market price.

Question 2

The price elasticity of demand coefficient for a good will be greater:
 a. if close substitutes exist.
  b. if minor complements exist.
  c. in the short-run.
  d. if a small portion of the budget will be spent on it.


jxjsniuniu

  • Sr. Member
  • ****
  • Posts: 343
Reply #1 on: Jun 30, 2018
Answer to Question 1

a

Answer to Question 2

a


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

Did you know?

Pope Sylvester II tried to introduce Arabic numbers into Europe between the years 999 and 1003, but their use did not catch on for a few more centuries, and Roman numerals continued to be the primary number system.

Did you know?

Blastomycosis is often misdiagnosed, resulting in tragic outcomes. It is caused by a fungus living in moist soil, in wooded areas of the United States and Canada. If inhaled, the fungus can cause mild breathing problems that may worsen and cause serious illness and even death.

Did you know?

The familiar sounds of your heart are made by the heart's valves as they open and close.

Did you know?

Stevens-Johnson syndrome and Toxic Epidermal Necrolysis syndrome are life-threatening reactions that can result in death. Complications include permanent blindness, dry-eye syndrome, lung damage, photophobia, asthma, chronic obstructive pulmonary disease, permanent loss of nail beds, scarring of mucous membranes, arthritis, and chronic fatigue syndrome. Many patients' pores scar shut, causing them to retain heat.

Did you know?

A recent study has found that following a diet rich in berries may slow down the aging process of the brain. This diet apparently helps to keep dopamine levels much higher than are seen in normal individuals who do not eat berries as a regular part of their diet as they enter their later years.

Environment of tRNAs at the ribosome as determined by cross-linking Environment of tRNAs at the ribosome as determined by cross-linking
U.S. Subsurface Coal Mining: Output, Price, and Output per Worker-Hour, 1949–1994 U.S. Subsurface Coal Mining: Output, Price, and Output per Worker-Hour, 1949–1994
Management Information Systems: Managing the Digital Firm, 15th Edition Management Information Systems: Managing the Digital Firm, 15th Edition
The net price of an article is $79.84. What is the list price if a discount of 23% was allowed? The net price of an article is $79.84. What is the list price if a discount of 23% was allowed?
Iraqi market Iraqi market
Cost = $99.49; Rate of markup based on cost = 32%. Find the markup and selling price. Cost = $99.49; Rate of markup based on cost = 32%. Find the markup and selling price.
Video: Pores and Ion Channels

For a complete list of videos, visit our video library