For any competitive market, the supply curve is closely related to the
a. preferences of consumers who purchase products in that market.
b. income tax rates of consumers in that market.
c. firms' costs of production in that market.
d. interest rates on government bonds.
c
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When the multiplier is ________, an autonomous decrease in investment of $200 billion decreases equilibrium real GDP by $400 billion
When the multiplier is ________, an autonomous decrease in investment of $200 billion decreases equilibrium real GDP by $800 billion. A) 2.0; 4.0 B) 0.4; 0.2 C) 0.2; 0.4 D) 4.0; 8.0 E) $400 billion; $800 billion
Credit card balances are: a. included in both M1 and M2
b. included in M1 but not M2. c. included in M2 but not M1. d. not included in either M1 or M2.
The Occupational Safety and Health Administration (OSHA) attempts to stop safety violations in business through inspections and fines. Though workers are supposed to earn a premium wage for working in more risky environment, the OSHA inspections may be a good idea because
A. employees may already understand the risks that they are exposed to on the job. B. there are never any societal costs or externalities to dangerous working conditions. C. employees might not have good information about the level of danger. D. inspections and fines may raise the cost of production significantly.
A situation in which one firm's actions with respect to price, quality, advertising and related changes may be strategically countered by the reactions of one or more other firms in the industry is known as
A) strategic dependence. B) economies of scale. C) the concentration ratio. D) barriers to entry.