An excellent example of price leadership can be found in
A. automobiles.
B. oil.
C. banking.
D. cigarettes.
C. banking.
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In the diagram of the decision tree, what lies at the bottom, the roots?
a. The basic decision b. The alternatives c. Resources d. Values
An downward shift in a worker’s budget line is a result of
a. an increase in the wage rate. b. a decrease in the wage rate c. an increase in nonlabor income. d. a decrease in nonlabor income.
In a market economy, the people who receive the goods and services produced are those who
A. Are willing and able to pay the market price. B. Have the most political power. C. Need the goods and services the most. D. Want the goods and services the most.
The shape of the short-run average total cost curve is a result of
A) economies of scale. B) diseconomies of scale. C) the law of diminishing marginal product. D) falling profits.