In a market economy, those who are willing and able to buy what is produced
A) receive the most of what is produced.
B) receive no more than everyone else in the market.
C) solely determine what is produced.
D) receive what the government allows them to receive.
A
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DeBeers is a natural monopoly in the world's diamond trade
a. True b. False
Everything else equal, the more rivals a firm has, the
a. less kinked is its demand curve. b. closer is its equilibrium price to its average variable costs. c. more differentiated is its product from rivals' products. d. more elastic is its demand curve.
Suppose that money supply growth continues to be higher in Turkey than it is in the United States. What does purchasing-power parity imply will happen to the real and to the nominal exchange rate?
Refer to the graph shown. If the price of this product fell from $5.00 to $2.50 (because of a price ceiling or a shift in demand), producer surplus would fall from:
A. 2,000 to 500. B. 500 to 250. C. 1,000 to 500. D. 1,000 to 250.