If a firm has substantial market power, it must be operating in ...

[hbsimmons88]

If a firm has substantial market power, it must be operating in an industry that would be classified as:
 a. a monopoly or oligopoly.
  b. perfectly competitive.
  c. monopolistically competitive.
  d. perfectly competitive or monopolistically competitive.
  e. perfectly competitive or a monopoly.

Question 2

The short run is a period of time:
 a. in which a firm uses at least one fixed input.
  b. that is long enough to permit changes in the firm's plant size.
  c. in which production occurs within one year.
  d. in which production occurs within six months.

[31809pancho]

Answer to Question 1

a

Answer to Question 2

a

[hbsimmons88]

Thank you

[31809pancho]

Happy to help you