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Author Question: Firms that are price takers A) can raise their prices as a result of a successful advertising ... (Read 135 times)

gonzo233

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Firms that are price takers
 
  A) can raise their prices as a result of a successful advertising campaign.
  B) are able to sell all their output at the market price.
  C) are able to sell a fixed quantity of output at the market price.
  D) must lower their prices to increase sales.

Question 2

When a firm faces a downward-sloping demand curve, marginal revenue
 
  A) must exceed price because the price effect outweighs the output effect.
  B) must exceed price because the output effect outweighs the price effect.
  C) is less than price because a firm must lower its price to sell more.
  D) equals price because the firm sells a standardized product.


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nothere

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gonzo233

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Reply 2 on: Jun 29, 2018
YES! Correct, THANKS for helping me on my review


peter

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Reply 3 on: Yesterday
Gracias!

 

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