Oligopolists need to consider:
A. the substitution effect.
B. the supply effect.
C. the price effect.
D. the income effect.
C. the price effect.
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The decision about what goods and services will be produced in a centrally planned economy is made by
A) producers deciding what society wants most. B) lawmakers in the government deciding on what will be produced. C) consumers dictating to firms what they need most. D) workers deciding to produce only what the boss says must be produced. E) consumers and firms choosing which goods and services to buy or produce.
Assume that no banks hold excess reserves, and the public holds no currency. If a bank sells a $100 security to the Fed, explain what happens to this bank and two additional steps in the deposit expansion process, assuming a 10% reserve requirement
How much do deposits and loans increase for the banking system when the process is completed?
Politics
A. play no role in public finance. B. influence government decisions. C. have to be factored into economic decision making. D. all of these answer options are correct.
According to the law of demand, a decrease in price leads to an increase in quantity demanded.
Answer the following statement true (T) or false (F)