All two-dimensional graphs must have an origin, a horizontal axis, and a vertical axis.
Answer the following statement true (T) or false (F)
True
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Growth of output per person at a constant rate is referred to as ________
A) a balanced growth path B) a steady state C) a ratio scale D) an amplification effect
The difference between the economic and accounting costs of a firm are
A) the accountant's fees. B) the corporate taxes on profits . C) the opportunity costs of the factors of production that the firm owns. D) the sunk costs incurred by the firm. E) the explicit costs of the firm.
According to the figure shown, if Adidas charges a low price, then Nike should:
A. charge a high price.
B. leave the market.
C. charge a low price.
D. give an ultimatum.
Porter developed ______ broad attributes of a nation that shape the environment in which local firms compete.
Fill in the blank(s) with the appropriate word(s).