Which of the following statements is (are) true concerning a pure ...

[JMatthes]

Which of the following statements is (are) true concerning a pure competition situation?
 a. Its demand curve is represented by a vertical line.
  b. Firms must sell at or below market price.
  c. Marginal revenue is equal to price.
  d. both b and c
  e. both a and b

Question 2

Vertical contracts between manufacturers and retailers often aim to
 a. Prevent the manufacturers from upstream price discrimination
 b. Reward the manufacturer for undertaking the risk inherent in introducing a new product
  c. Serve as a signal of the manufacturer's belief of the likely success of his product
  d. All of the above

[nguyenhoanhat]

Answer to Question 1

d

Answer to Question 2

c

[JMatthes]

Excellent

[LegendaryAnswers]

Thanks for the timely response, appreciate it