Firms do not need to be concerned about striking a balance between the price effect and the output effect when making production decisions in which of the following types of markets?
A)Oligopoly
B)Duopoly
C)Monopoly
D)Competitive markets

Question

Quizplus · Accepted Answer

In competitive markets, firms are price takers and cannot influence the market price, so they do not need to balance the price effect and the output effect.

Firms Do Not Need to Be Concerned About Striking a Balance