Since the demand curve is downward sloping, the graph of total profits is also has a negative slope.
Answer the following statement true (T) or false (F)
False
You might also like to view...
If the demand curve for bologna shifts to the right as income falls then bologna is a(n):
A. inferior good. B. complementary good. C. normal good. D. substitute good.
Which of the following is not a characteristic of a prisoner's dilemma game?
A) Defecting is a dominant strategy for each player. B) Each player has two strategies: cooperate or defect. C) There is a single Nash equilibrium. D) The Nash equilibrium is the best outcome for each individual and for the grou
In an economy where firms in most industries are purely competitive firms, individual firms in each industry would produce ________ products and have a ________ share of industry output
A) differentiated; large B) differentiated; small C) standardized; large D) standardized; small
During the crisis of 2008 housing prices ________ and stock prices ________. (Fill in the blank)
a. rose sharply; fell sharply b. fell sharply; rose sharply c. fell sharply; fell sharply d. rose sharply; rose sharply