Firms in all types of market structures pay attention to current ...

[Alygatorr01285]

Firms in all types of market structures pay attention to current rival firms' behavior.
 
  Indicate whether the statement is true or false

Question 2

A private auction is an auction in which
 
  A) individuals know their own value of the good and everyone else's valuation, too.
  B) individuals have their own valuation of the good but don't know everyone else's.
  C) many auctions are auctioned off at the same time.
  D) only one good is auctioned off.

[Pariscourtney]

Answer to Question 1

False. Monopolies don't have current rivals. Competitive firms only pay attention to the market price. Oligopolistic and monopolistic competitive firms pay attention to current rivals.

Answer to Question 2

B

[Alygatorr01285]

Thanks for the timely response, appreciate it

[Laurenleakan]

Excellent