In trying to make a profit maximizing decision, managers are concerned about both supply and demand. Which of the following factors affect demand specifically? (select all that apply)
A. Income
B. cost of production
C. Consumers' tastes
D. Price of related goods
Ans: The correct options are:
A) income
C) consumers' tastes
D) price of related goods
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A) the central bank; goals B) Congress; goals C) Congress; instruments D) the central bank; instruments
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a. pure profit. b. economic rent. c. marginal rent. d. competitive rent.
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A. inefficient production. B. a lack of scarcity. C. the law of increasing additional cost. D. zero opportunity cost of moving from inefficient production to currently unobtainable production.
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Answer the following statement true (T) or false (F)