Post a New Question


posted by .

Do all firms in all market structures have anything in common?

I think not.

They all consist of buyers and sellers.

In Principals of Microeconomics courses, economists make several general economic assumptions (perhaps incorrectly I might add) about firms and the behavior of firms. For example, we generally assume that:
1) All firms are profit maximizers.
2) All firms make rational choices.
3) Consumers make rational choices.
4) The marginal product of inputs is almost always decreasing.

Respond to this Question

First Name
School Subject
Your Answer

Similar Questions

More Related Questions

Post a New Question