Question
In perfect (pure) competition: a. the optimal price-output solution occurs at the point where marginal revenue is equal to price b. a firm's specific demand
- In perfect (pure) competition:
a. the optimal price-output solution occurs at the point where marginal revenue is equal to price
b. a firm's specific demand curve is represented by a horizontal line
c. a firm is a price-taker since the products of every producer are perfect substitutes for the products of every other producer
d. a and b only
e. a, b, and c
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Macroeconomics Principles and Applications
Authors: Robert E. Hall, Marc Lieberman
6th edition
1111822352, 1111822354, 9781133708742 , 978-1111822354
