Which of the following statements is correct? a.Acompetitive firm is a price mak
ID: 1253192 • Letter: W
Question
Which of the following statements is correct? a.Acompetitive firm is a price maker, and a monopoly is aprice taker. b.A competitive firm is a price taker, and a monopoly is aprice maker. c.Both compotitive firms and monopolies are pricetakers. d.Both compotitive firms and monopolies are pricemakers. Which of the following statements is correct? a.Acompetitive firm is a price maker, and a monopoly is aprice taker. b.A competitive firm is a price taker, and a monopoly is aprice maker. c.Both compotitive firms and monopolies are pricetakers. d.Both compotitive firms and monopolies are pricemakers.Explanation / Answer
Which of the following statements is correct? a.Acompetitive firm is a price maker, and a monopoly is aprice taker. b.A competitive firm is a price taker, and amonopoly is a price maker- compeittive firm has too many firms thusno one has control over price while monopoly has only 1firm c.Both compotitive firms and monopolies are pricetakers. d.Both compotitive firms and monopolies are pricemakers.Related Questions
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