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Unlike price takers, price searchers do not maximize profits by producing at the point where marginal revenue is equal to marginal cost True False Demand will be more price elastic, when the number of "good" substitutes available to consumers is large

Economics

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Unlike price takers, price searchers do not maximize profits by producing at the point where marginal revenue is equal to marginal cost True False
Demand will be more price elastic, when the number of "good" substitutes available to consumers is large. True False
Aprofit-maximizing" price searcher will want to charge a price that is equal to marginal cost. O True O False
A market is said to be contestable when barrier to entry and barriers to exit are low. True False
New issues of stocks and bonds are bought and sold by the investing public in the secondary securities markets. True False