Answered step by step

Verified Expert Solution

Link Copied!

Question

1 Approved Answer

Posted on Jul 04, 2024

The implication of a firm being a price taker is that, if it increases its price then: a.buyers will pay the higher price in the

The implication of a firm being a price taker is that, if it increases its price then:

a.buyers will pay the higher price in the short run

b.other sellers in the market will increase prices as well

c.the firm will need to advertise to sell its goods

d.profits will increase

e.buyers will purchase from other sellers instead

Step by Step Solution

There are 3 Steps involved in it

Step: 1

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

Step: 3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Capitalist Political Economy Thinkers And Theories

Authors: Heather Whiteside

1st Edition

0429888031, 9780429888038

More Books

Students also viewed these Economics questions

Question

★★★★★

During your examination of the financial statements of Martin Mfg. Co., a new client, for the year ended March 31, 20X0, you note the following entry in the general journal dated March 31, 20X0: Your...

Answered: 1 week ago

Question

★★★★★

Find a reason to contact a website or a social network service page (asking for information, searching for support for a previously purchased product or service, etc.) and make the conract. Keep...

Answered: 1 week ago

Question

★★★★★

=+11. An analyst wants to build a regression model to predict spending from the following four predictor variables: Past Spending, Income, Net Worth and Age. A correlation matrix of the four...

Answered: 1 week ago

Question

★★★★★

Titus Manin Black Limited is trying to determine the value of its ending inventory as of February 28, 2012, the companys year-end. The following transactions occurred, and the accountant asked your...

Answered: 1 week ago

Question

★★★★★

1.-List three businesses, one of which must be a marijuana dispensary in California, to which the tax code ascribes a preference or limitation; 2.-Describe the preferences or limitations for each...

Answered: 1 week ago

Question

★★★★★

Choose the best study design for the following research question: an investigator wishes to determine if the prevalence of syphilis is higher among men than women. Question 3 options: Ecologic study...

Answered: 1 week ago

Question

★★★★★

Knightro has three variables that store the length of each of his runs, run1, run2, run3 and he is trying to find the average of these three numbers and save it into the variable name overall. Write...

Answered: 1 week ago

Question

★★★★★

Problem 2. By using R function generate a simple and random sample of size n for the population X ~N(2, 32). 3/n (i) Let n = 20, compute X-2 and (n-1)52. Then, repeat (i) for 100 times X-2 and (n-1)...

Answered: 1 week ago

Question

★★★★★

What does the term "acceptable level" mean when used in the GAO conceptual framework to describe threats to independence? The circumstances are fluid but stable in terms of the auditor's...

Answered: 1 week ago

Question

★★★★★

5. Wabasha Co. has two service departments (A and B) and two producing departments (X and Y). Data provided are as follows: Service Depts. Operating Depts. A B X Y Direct costs $150 $300 Services...

Answered: 1 week ago

Question

★★★★★

4.Find the network Id, broadcast id and the binary conversion of the following IPs. i.20. 210. 47. 225/13 ii.220. 20. 17. 5/27 iii.10. 10. 7. 17/19 iv. 192. 12. 8. 1/18 v.172. 1. 4. 5/20

Answered: 1 week ago

Question

★★★★★

2. See things from the other persons perspective (1 is oriented towards an inner source of inspiration, while 2 is oriented towards an outer source of motivation). d. Reflection style: When I really...

Answered: 1 week ago

Question

★★★★★

2. What do the others in the network want to achieve?

Answered: 1 week ago

Question

★★★★★

1. What do I want to achieve?

Answered: 1 week ago

Previous Question Next Question