The survivor principle in competitive markets implies that:
A) the outcome of a competitive market will not be profit-maximizing.
B) profit maximization need not be the only objective of a firm.
C) all firms follow the objective of profit maximization.
D) firms that do not undertake profit maximization will be driven out of the market.
Correct Answer:
Verified
Q2: Resources are not free to move into
Q3: Use the following figure to answer the
Q4: Which of the following is an assumption
Q5: If firms in a perfectly competitive market
Q6: The competitive firm's demand curve is:
A)unit elastic
Q7: According to the _ principle,firms that do
Q8: Assume that coffee shops operate in a
Q9: A perfectly competitive firm is a price
Q10: For a perfectly competitive firm,the demand curve:
A)coincides
Q11: Which one of the following is not
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents