Consider the following statements when answering this question
I. When a competitive industry...
Social Studies, 21.04.2020 01:46 chris6626
Consider the following statements when answering this question
I. When a competitive industry's supply curve is perfectly elastic, then the sole beneficiaries of a reduction in input prices are consumers.
II. Even in competitive markets firms have no incentives to control costs, as they can always on cost increases to consumers.
A) I and II are true.
B) I is true, and II is false.
C) I is false, and II is true.
D) I and II are false.
Answers: 1
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