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Author Question: In the long run, the firms in a perfectly competitive market A) maximize their profit. B) make ... (Read 157 times)

nramada

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  • Posts: 580
on: Jun 29, 2018
In the long run, the firms in a perfectly competitive market
 
  A) maximize their profit.
  B) make an economic profit.
  C) display price setting behavior.
  D) are protected by barriers to entry.

Question 2

A market structure in which there is only one buyer is
 
  A) a monopoly.
  B) a monopsony.
  C) an oligopoly.
  D) a competitive market.


fraziera112

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  • Posts: 356
Reply #1 on: Jun 29, 2018
Answer to Question 1

A

Answer to Question 2

B


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