Author Question: A monopolistic firm is a: a. price taker that faces the market supply curve. b. price taker that ... (Read 111 times)

jc611 · **on:** Jun 30, 2018

A monopolistic firm is a:
a. price taker that faces the market supply curve.
b. price taker that faces the market demand curve.
c. price maker that faces the market supply curve.
d. price maker that faces the market demand curve.

Question 2

Though the countries can benefit by completely specializing in the production of the good in which they have comparative advantage, in real world however, they do not completely specialize.
a. True
b. False
Indicate whether the statement is true or false