题目内容

Under perfect competition, price is determined by the intersection of the industry supply and demand curves

A. a. in the short run.
B. b. in the long run.
C. c. always.
D. d. never.

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A. a. Aircrafts.
B. b. Cigarettes.
C. c. Rice.
D. d. Automobiles.

A. a. slopes upward.
B. b. is identical to his marginal cost curve.
C. c. is identical to his marginal revenue curve.
D. d. does not exist.

A. a. $40.
B. b. $80.
C. c. $120.
D. d. $160.

A. a. A single seller.
B. b. A small number of buyers.
C. c. Buyers and sellers are price setters.
D. d. Buyers and sellers are price takers.