Excess supply in an unregulated market will cause the price of a product to fall.

Answer the following statement true (T) or false (F)


True

Economics

You might also like to view...

The market for lawn services is perfectly competitive. Larry's Lawn Service cannot increase its total revenue by raising its price because ________

A) Larry's supply of lawn services is perfectly inelastic B) the demand for Larry's services is perfectly inelastic C) Larry's supply of lawn services is inelastic D) the demand for Larry's services is perfectly elastic

Economics

It is in society’s best interest that the MC of the last unit produced of a good is equal to its MU.

Answer the following statement true (T) or false (F)

Economics

Progressive income tax structures are based on interpersonal comparisons of burden

Indicate whether the statement is true or false

Economics

Which of the following would be a disadvantage of a sole proprietorship?

a. limited liability b. limited ability to raise funds to expand business c. too many people involved in decision making d. inability to produce more than one product e. inability to advertise

Economics