A small farmer is more likely to operate in a perfectly competitive market than a company like AB inBev because... a) a small business is more likely to keep close control on costs than a large firm. b) AB inBev employs many people, whereas perfectly competitive firms are owner-managed. c) the demand for beer is less elastic than the demand for food. d) a small farmer supplies a small share of market supply.

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
Chapter10: The Firm And The Industry Under Perfect Competition
Section: Chapter Questions
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A small farmer is more likely to operate in a perfectly competitive market than a company like AB
inBev because...

a) a small business is more likely to keep close control on costs than a large firm.
b) AB inBev employs many people, whereas perfectly competitive firms are owner-managed.
c) the demand for beer is less elastic than the demand for food.
d) a small farmer supplies a small share of market supply.




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