A market demand curve:
a. is the sum of the demand curves of all the individuals in a particular market.
b. is determined by the demand of those who purchase in quantity.
c. is always horizontal.
d. cannot be estimated.
e. never includes demand by the government.
a
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Trisha believes the production of a dress requires 4 labor hours and 2 machine hours to produce. If Trisha decides to operate in the short run, she must spend $500 to lease her business space
Also, a labor hour costs $15 and a machine hour costs $35. What is Trisha's cost of production as a function of dresses produced?
Some economists believe that inflation could actually help reduce unemployment in the short-run
a. True b. False Indicate whether the statement is true or false
The age of mass production, which began in the United States during the early years of the 20th century, was the ______ phase of the Industrial Revolution.
A. first B. second C. third D. fourth
A difference between economic regulation and social regulation is that
A. the former tends to affect the prices at which products are sold and the latter does not. B. the former tends to be specific to an industry and the latter tends to affect firms in all industries. C. the former tends to be done at the state level and the latter at the federal level. D. the former tends to affect the profits of firms and the latter does not.