Answer:
"A purely competitive firm is a "price taker," while a monopolist is a "price maker".
Explanation:
<u>Price takers</u> are those organizations that do not have the ability to impact the market to generate fluctuations. This is the case of a <em>purely competitive firm </em>that markets its products at a price that helps maximize profit.
<u>Price makers</u> are those that make the market go, that is, they have significant lots larger than the queue at each price level. This is the case of <em>monopolistic firms</em>, capable of influencing the price of the product.
Answer:
C. the period of time in which at least one factor of production is fixed.
Explanation:
- The short-run is a condition, were some controls and market are not in fair equilibrium, some factors like the variables and other that are foxed have limited entry or exit to the industry.
- In the macroeconomics a long run is a time when the general price, and contractual wage rates, along with the expectations are adjusted entirely to the states of the economy. and this contrast to the short-run where the variable is not fully fixed or adjusted.
- <u>The short-run for a firm will increase the production of the marginal costs is less than the marginal revenue. The transition from the short to the long-run market equilibrium may be done on considering the supply and demands.</u>
Answer:
d. Clayton Act
Explanation:
* The Clayton Antitrust Act, declared in 1914, proceeds to improve U.S. patronage systems now.
* Designed to encourage quicker antitrust enactment, the Clayton Antitrust Act forbids anti-competing alliances, unfair pricing and predatory, furthermore other sorts of unscrupulous corporate action.
* The Clayton Antitrust Act also preserves people, enabling lawsuits corresponding organizations and supporting the rights of labor to assemble and demur modestly.
Medical researcher recommends that the new flu shot will stop all kinds of the flu, though it was never examined or declared to be right, so as we know that this will act according to the Clayton Act as rules explained above.
An economic and political system in which a country's trade and industry are controlled by private owners for profit rather than by state. {This is what the dictionary said by the way}
