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Author Question: If a firm has no ability to select the price of its product, it: a. will go out of business due to ... (Read 29 times)

rosent76

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on: Jun 30, 2018
If a firm has no ability to select the price of its product, it:
 a. will go out of business due to losses.
  b. is a price-maker.
  c. cannot maximize profit.
  d. has a horizontal individual demand curve.

Question 2

In differentiating between the short- and long-run elasticities, when economists talk about short-run elasticities,
 a. b and c.
  b. there is no need to mention short versus long run.
  c. the only issues are price and quantity.
  d. short-run elasticities are usually higher.
  e. short-run elasticities are usually lower.


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chjcharjto14

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

d

Answer to Question 2

e


rosent76

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Reply 2 on: Jun 30, 2018
Great answer, keep it coming :)

parshano

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Reply 3 on: Yesterday
Excellent

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