Any change in a firm’s fixed costs will change its profit-maximizing level of output.
Answer the following statement true (T) or false (F)
False
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To sell an extra unit of output, a perfectly competitive firm ________, and an imperfectly competitive firm ________.
A. need not alter its price; must lower its price B. must hope the market price falls; must lower its price C. must lower its price; must lower its price D. need not alter its price; need not alter its price
Financial markets and financial intermediaries comprise the financial system
Indicate whether the statement is true or false
An economic system characterized by private ownership of the factors of production and economic activity coordinated through a system of markets and prices is called:
a. capitalism. b. socialism. c. communism. d. none of these.
Which of the following would not increase autonomous consumption spending?
a. Expectations of greater future income b. A lower interest rate c. Reduced consumer debt d. Increased household wealth e. Increased disposable income