key difference between a competitive firm and a monopoly firm is the
ability to select ( )
A: the level of competition in
the market.
B: the level of production.
C: inputs in the production
process.
D: the price of its output.
举一反三
- When an oligarch alone chooses the level of production that maximizes profits. It Charges A: The price charged by a monopoly is greater than the price charged by a competitive market B: A price less than that charged by a monopoly and greater than that charged by a competitive market C: The price charged in a monopoly or competitive market D: Less than the price charged in a monopoly or competitive market.
- In<br/>which of the following case will a firm prefer the entry mode of a<br/>wholly owned foreign subsidiary? ( ) A: The<br/>firm has a high level of tacit knowledge B: The<br/>firm has a high level of performance certainty C: The<br/>firm has a low level of interdependence with its foreign partner D: The<br/>firm has a low level of confidence in international operation
- When an individual firm in a competitive market increases its production, it is likely that the market price will fall.
- For any given price, a firm in a competitive market will maximize<br/>profit by selecting the level of output at which price intersects the<br/>( ) A: average total cost curve. B: average variable cost curve. C: marginal cost curve. D: marginal revenue curve.
- Which<br/>of the following conditions does NOT describe a firm in a<br/>monopolistically competitive market? ( ) A: It<br/>makes a product different from its competitors. B: It<br/>takes its price as given by market conditions. C: It<br/>maximizes profit both in the short run and in the long run. D: It<br/>has the freedom to enter or exit in the long run.
内容
- 0
A perfectly competitive firm is producing 75 units of output. The market price is $7 and the firm's marginal cost is $8. The firm should:
- 1
Both models of aggregate supply presented in Chapter 13 share the<br/>feature that, if the price level is above the expected price level,<br/>then ____ A: nominal wages will fall. B: nominal wages will rise. C: output will be below its natural level. D: output will be above its natural level.
- 2
Assume that a smartphone maker operates in a perfectly competitive market producing 25,000 smartphones per day. At this output level, price is less than this firm's marginal cost. It follows that producing one more smartphone will cause this firm's:
- 3
A competitive firm hires labor until the marginal product of labor<br/>equals the ____ A: real wage. B: rental price of capital. C: price of output. D: capital/labor ratio.
- 4
Factors of production are A: the mathematical calculations firms make in determining their optimal production levels. B: social and political conditions that affect production. C: the physical relationships between economic inputs and outputs. D: inputs into the production process.