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Author Question: If a perfectly competitive firm raises its price, its sales decrease to zero. a. True b. ... (Read 43 times)

xclash

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on: Jun 30, 2018
If a perfectly competitive firm raises its price, its sales decrease to zero.
 a. True
  b. False

Question 2

Which of the following describes the market structure of monopoly?
 a. many firms with some control over price, and considerable product differentiation
  b. many firms with no control over price, producing identical products with no differentiation
  c. a few firms with some control over price, producing similar products which are close substitutes
  d. a few firms with no control over price, producing highly differentiated products
  e. a single firm producing all of the output for the industry


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samiel-sayed

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

A

Answer to Question 2

E


xclash

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Reply #2 on: Jun 30, 2018
Thank you


samiel-sayed

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Reply #3 on: Jun 30, 2018
No problemo


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