Which of these is a valid difference between firms in competitive price-searcher and price-taker markets? Price-taker firms advertise their products, while price-searcher firms do not. Price-searcher firms advertise their products, while price-taker firms do not. Price takers earn economic profit in the short run, while price searchers do not. Price searchers earn economic profit in the long run, while price takers do not.

Which of these is a valid difference between firms in competitive price-searcher and price-taker markets? Price-taker firms advertise their products, while price-searcher firms do not. Price-searcher firms advertise their products, while price-taker firms do not. Price takers earn economic profit in the short run, while price searchers do not. Price searchers earn economic profit in the long run, while price takers do not.

Essentials of Economics (MindTap Course List)

8th Edition

ISBN:9781337091992

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter13: Firms In Competitive Markets

Section13.2: Profit Maximization And The Competitive Firm's Supply Curve

Problem 2QQ: How does a competitive firm determine its profit-maximizing level of output? Explain. When does a...

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