Which of these would NOT be considered a middleman in a market?
A) a produce wholesaler
B) an apple farmer
C) a smartphone retailer
D) a fruit distributor
B
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A rancher raises shee
A) only the raw wool and the yarn. B) only the yarn and the sweaters. C) the raw wool, the yarn and the sweaters. D) only the sweaters.
The seller of an option has the ________ to buy or sell the underlying asset while the purchaser of an option has the ________ to buy or sell the asset
A) obligation; right B) right; obligation C) obligation; obligation D) right; right
The quantity equation makes the demand for money depend on
A) the unemployment rate and the level of interest rates. B) the inflation rate and the unemployment rate. C) interest rates and the unemployment rate. D) None of these.
Assume both the marginal cost and the average variable cost curves are U-shaped. At the minimum point on the AVC curve, marginal cost must be:
a. greater than the average variable cost. b. equal to the average variable cost. c. less than the average variable cost. d. at its minimum.