In ________ industries, a single firm has some control over the price of its output.
A. imperfectly competitive
B. all
C. only government-regulated
D. perfectly competitive
Answer: A
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Use the international trade effect to explain why our aggregate demand curve is downward sloping
If the U.S. dollar depreciates in value relative to foreign currencies, then this will:
A. increase aggregate demand. B. cause a movement along the aggregate supply curve. C. cause a movement along the aggregate demand curve. D. decrease aggregate demand.
How do economists view profits?
A) The firm's profit equals the sum of all payments to the 5 factors of production. B) Profits are an asset the business holds. C) Profits are guaranteed as long as a firm operates ethically. D) Profits are one of the costs paid to a factor of production.
How does a fall in the money wage rate affect the aggregate supply curve?
What will be an ideal response?