Assume a market is perfectly competitive. When a new producer enters the market, the
A: price in the market increases.
B: price in the market decreases.
C: price in the market does not change.
D: market is no longer a competitive market.
A: price in the market increases.
B: price in the market decreases.
C: price in the market does not change.
D: market is no longer a competitive market.
举一反三
- If a firm in a perfectly competitive market tries to raise its price above the going market price, then:
- When an individual firm in a competitive market increases its production, it is likely that the market price will fall.
- 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.
- When a manufacturer maximizes profits in a competitive market, the market price must be equal to the average cost.
- When buyers in a competitive market take the selling price as given, they are said to be A: market entrants. B: monopolists. C: free riders. D: price takers.