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ECON-UA 2 Lecture Notes - Market Power, Demand Curve

United States

Introduction to Microeconomics

Economics

Marc Lieberman

New York University

Computer Systems Org

Introduction to Macroeconomics

Is an oligopolistic firm a price taker or a price setter? Explain your answer.

A monopolist is                       , while a perfectly competitive firm is                        . 
a. a price taker; a price maker.
b. a price maker, a price taker.
c. a profit maker, a profit taker.
d. an economic profit maker; a price maker.

Who is a price taker in a perfectly competitive market?

ECON-UA 2 Lecture Notes - Market Power, Demand Curve

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