Which of the following will shift the demand curve for milk?
a. change in the income of buyers of milk
b. change in the price of milk
c. change in input prices for milk
d. All of the above are correct.
a
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Refer to Table 13-3. What is the best course of action for the firm in the short run?
A) It should not cut its price but it should increase its sales by advertising. B) It should stay in business because it covers some of its fixed cost. C) It should shut down. D) It should increase its sales by lowering its price.
An organization producing a wide range of products is more likely to decentralize its decision making process than a firm operating in a single industry
Indicate whether the statement is true or false
Why does the Federal Reserve alter monetary policy?
(A) To provide services to member banks. (B) To enable banks to clear checks. (C) To lessen the effect of natural business cycles. (D) To regulate the banking industry.
If a firm operating in a fairly competitive market earns a large economic profit, then, over time,
A. old firms will exit and prices will fall. B. new firms will enter and prices will rise. C. new firms will enter and prices will fall. D. old firms will exit and prices will rise.