In centrally planned economies, most prices are not

a. established by central planners
b. inflexible
c. set below the market-clearing level
d. based on consumer demand
e. the cause of shortages of supply


D

Economics

You might also like to view...

Sue's Surfboards is the sole renter of surfboards on Big Wave Island. Sue does not price discriminate. For Sue's Surfboards, the change in total revenue from each additional surfboard rented is her

A) marginal revenue and is equal to the rental price of a surfboard. B) marginal cost and is greater than the rental price of a surfboard. C) marginal revenue and is less than the rental price of a surfboard. D) marginal cost and is constant regardless of how many surfboards are rented.

Economics

The slope of the utility possibilities frontier is

A) positive. B) negative. C) zero. D) undefined.

Economics

Suppose you are given the following demand curves: Q = 32 - P and Q = 16 - (P/2). Add these two demand curves vertically and find the market demand curve.

What will be an ideal response?

Economics

An increase in the market interest rate will _____

Fill in the blank(s) with the appropriate word(s).

Economics