Author Question: In evaluating a relationship between x and y, ceteris paribus means other variables A) are not ... (Read 181 times)

Chelseaamend · **on:** Jun 29, 2018

In evaluating a relationship between x and y, ceteris paribus means other variables

A) are not relevant to x and y.
B) move in opposite directions to x and y.
C) are not changing while x and y change.
D) move in the same direction as x and y.

Question 2

Which of the following statements correctly identifies a similarity between monopoly and perfect competition?

A) Entry is restricted in both market structures.
B) Price equals marginal cost in both market structures.
C) Production is expanded until marginal revenue equals marginal cost in both the market structures.
D) Firms face an upward sloping demand curve and a downward sloping marginal revenue curve in both the market structures.