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Author Question: If a firm has substantial market power, it must be operating in an industry that would be classified ... (Read 26 times)

hbsimmons88

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on: Jun 30, 2018
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.


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31809pancho

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Reply #1 on: Jun 30, 2018
Answer to Question 1

a

Answer to Question 2

a


hbsimmons88

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Reply #2 on: Jun 30, 2018
Thank you :)


31809pancho

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Reply #3 on: Jun 30, 2018
Happy to help you


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