Demand
What will be an ideal response?
A schedule of all various quantities of a good or service that consumers are willing and able to buy at various prices and a specified time, place and population
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An imperfectly competitive firm faces a demand curve that is:
A. perfectly elastic. B. more than perfectly elastic. C. downward sloping. D. perfectly inelastic.
Indirect finance includes the sale by a corporation of stocks or bonds, as well as borrowing money from a bank
Indicate whether the statement is true or false
Which of the following statements is true?
A. Diminishing marginal returns sets in after marginal product intersects average product B. Diminishing marginal returns means that in order to increase output at a constant rate, the firm must add larger and larger quantities of the variable inputs C. Diminishing marginal returns implies that there will never be increasing returns to scale D. Diminishing marginal returns implies that the firm's profits will be shrinking
The law of diminishing returns explains why:
A. Total cost eventually rises faster and faster B. Total cost eventually falls C. Total cost eventually rises more and more slowly D. Total cost eventually reaches a maximum point