In the long run, the firms in a perfectly competitive market A) maximize their profit. B) make ...

Author Question: In the long run, the firms in a perfectly competitive market A) maximize their profit. B) make ... (Read 121 times)

nramada

Hero Member
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

Sr. Member
Posts: 356

Reply #1 on: Jun 29, 2018

Answer to Question 1

A

Answer to Question 2

B

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