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Author Question: Which of the following statements is (are) true concerning a pure competition situation? a. Its ... (Read 45 times)

JMatthes

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on: Jul 1, 2018
Which of the following statements is (are) true concerning a pure competition situation?
 a. Its demand curve is represented by a vertical line.
  b. Firms must sell at or below market price.
  c. Marginal revenue is equal to price.
  d. both b and c
  e. both a and b

Question 2

Vertical contracts between manufacturers and retailers often aim to
 a. Prevent the manufacturers from upstream price discrimination
 b. Reward the manufacturer for undertaking the risk inherent in introducing a new product
  c. Serve as a signal of the manufacturer's belief of the likely success of his product
  d. All of the above


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nguyenhoanhat

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Reply #1 on: Jul 1, 2018
Answer to Question 1

d

Answer to Question 2

c


JMatthes

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Reply 2 on: Jul 1, 2018
YES! Correct, THANKS for helping me on my review

kusterl

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Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

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