2) The manager of a perfectly competitive firm is a price taker for both the prices paid for inputs and prices received for products. Which of the following are inputs that the firm manager controls and adjusts in an effort to maximize profits in the short run? C Increase prices of the product, increase sales, increase total revenues. Number of buyers, number of sellers, market size. Labor, fertilizer, feed, and pesticides. Short run, medium run, and long run a. b. C. d.
2) The manager of a perfectly competitive firm is a price taker for both the prices paid for inputs and prices received for products. Which of the following are inputs that the firm manager controls and adjusts in an effort to maximize profits in the short run? C Increase prices of the product, increase sales, increase total revenues. Number of buyers, number of sellers, market size. Labor, fertilizer, feed, and pesticides. Short run, medium run, and long run a. b. C. d.
Microeconomics: Principles & Policy
14th Edition
ISBN:9781337794992
Author:William J. Baumol, Alan S. Blinder, John L. Solow
Publisher:William J. Baumol, Alan S. Blinder, John L. Solow
Chapter7: Production, Inputs, And Cost: Building Blocks For Supply Analysis
Section: Chapter Questions
Problem 1DQ
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![2) The manager of a perfectly competitive firm is a price taker for both the prices paid for
inputs and prices received for products. Which of the following are inputs that the firm manager
controls and adjusts in an effort to maximize profits in the short run? (
Increase prices of the product, increase sales, increase total revenues.
Number of buyers, number of sellers, market size.
Labor, fertilizer, feed, and pesticides.
Short run, medium run, and long run
a.
b.
C.
d.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F5016f182-96f3-4fa7-883a-bffe55eb6833%2Fb17e97a9-6213-49c6-9059-6983248b11a9%2Fg3zgvk_processed.jpeg&w=3840&q=75)
Transcribed Image Text:2) The manager of a perfectly competitive firm is a price taker for both the prices paid for
inputs and prices received for products. Which of the following are inputs that the firm manager
controls and adjusts in an effort to maximize profits in the short run? (
Increase prices of the product, increase sales, increase total revenues.
Number of buyers, number of sellers, market size.
Labor, fertilizer, feed, and pesticides.
Short run, medium run, and long run
a.
b.
C.
d.
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