In what kind of market is a firm un able to influence

This preview shows page 5 - 7 out of 7 pages.

In what kind of market is a firm unable to influence the price of its output?a. price makerb.monopolyc. imperfect monopoly
d.perfectly competitive
A negative externality occurs when _____.
Legal prohibitions against price gouging _____.
A cartel arrangement is likely to be successful for its members only if it can _____.
Marginal cost is _____.a. a small cost that does not affect a firm's profit significantlyb.the cost of increasing the margin between cost and price
c. the cost of producing one additional unit of outputd.None of the above
Price gouging might be the result of:
The "Prisoner's Dilemma" illustrates:

  • Left Quote Icon

    Student Picture

  • Left Quote Icon

    Student Picture

  • Left Quote Icon

    Student Picture