This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: A firm that is a price taker can: a. substantially change the market price of its product by ... (Read 78 times)

captainjonesify

  • Hero Member
  • *****
  • Posts: 543
on: Jun 30, 2018
A firm that is a price taker can:
 a. substantially change the market price of its product by changing its level of production.
  b. sell all of its output at the market price.
  c. sell some of its output at a price higher than the market price.
  d. decide what price to charge for its product.

Question 2

The price elasticity of demand coefficient for a good will be lower:
 a. if there are few substitutes for the good.
  b. if expenditure on it is a small part of one's budget.
  c. both a and b are true.
  d. neither a nor b are true.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

jsm54321

  • Sr. Member
  • ****
  • Posts: 328
Reply #1 on: Jun 30, 2018
Answer to Question 1

b

Answer to Question 2

c


captainjonesify

  • Hero Member
  • *****
  • Posts: 543
Reply #2 on: Jun 30, 2018
Thank you :)


jsm54321

  • Sr. Member
  • ****
  • Posts: 328
Reply #3 on: Jun 30, 2018
Happy to help you


« previous next »
 

Did you know?

Prostaglandins were first isolated from human semen in Sweden in the 1930s. They were so named because the researcher thought that they came from the prostate gland. In fact, prostaglandins exist and are synthesized in almost every cell of the body.

Did you know?

The average older adult in the United States takes five prescription drugs per day. Half of these drugs contain a sedative. Alcohol should therefore be avoided by most senior citizens because of the dangerous interactions between alcohol and sedatives.

Did you know?

The most dangerous mercury compound, dimethyl mercury, is so toxic that even a few microliters spilled on the skin can cause death. Mercury has been shown to accumulate in higher amounts in the following types of fish than other types: swordfish, shark, mackerel, tilefish, crab, and tuna.

Did you know?

Normal urine is sterile. It contains fluids, salts, and waste products. It is free of bacteria, viruses, and fungi.

Did you know?

For high blood pressure (hypertension), a new class of drug, called a vasopeptidase blocker (inhibitor), has been developed. It decreases blood pressure by simultaneously dilating the peripheral arteries and increasing the body's loss of salt.

How to use the product rule to find the derivative of a function How to use the product rule to find the derivative of a function
Ancient Climate Change Ancient Climate Change
Tree rings as indicators of environmental change Tree rings as indicators of environmental change
4 ways your breasts change after pregnancy "4 تغيّرات تطرأ على ثدييكِ ... 4 ways your breasts change after pregnancy "4 تغيّرات تطرأ على ثدييكِ ...
Find the derivative using the product rule Find the derivative using the product rule
The enthalpy change for converting 10.0 g of ice at -25.0 C to water at 80.0 C is ________ kJ. ... The enthalpy change for converting 10.0 g of ice at -25.0 C to water at 80.0 C is ________ kJ. ...
Video: Stroke volume - afterload definition & hypertension

For a complete list of videos, visit our video library