Compared to a single-price monopoly, a perfectly competitive market with the same costs produces ________ output and has a ________ price.
A: less; lower
B: less; higher
C: more; lower
D: more; higher
A: less; lower
B: less; higher
C: more; lower
D: more; higher
举一反三
- In the model of monopolistic competition, compared to a firm with a lower marginal cost, a firm with a higher marginal cost will set a ________ price, produce ________ output, and earn ________ profits. A: higher; less; more B: higher; less; less C: lower; less; less D: lower; more; more
- ________ positioning involves providing the most upscale product or service and charging a higher price to cover the higher costs. A: More for more B: More for the same C: More for less D: Same for less
- 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.
- Susan likes to drink sodas. The ( ) soda Susan drinks, the ( ) of the last soda. A: more; higher the marginal benefit B: less; higher the opportunity cost C: less; lower the marginal benefit D: more; lower the marginal benefit
- If a firm buys its labor in a competitive market, then a short-run increase in the price of the firm's output will cause the firm to( ) A: hire fewer workers. B: offer a higher wage. C: offer a lower wage. D: hire more workers.