Which of the following is NOT a direct determining factor of consumers' purchase decisions?
A) Consumers' tastes and preferences
B) Market price of the finished goods
C) Cost of factor inputs
D) Consumers' income
C
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Economic growth requires
A) private foreign investment. B) domestic budget deficits. C) investment in human capital. D) governance according to the will of whoever is in charge.
Suppose that market demand for a good is Q = 480 - 2p. The marginal cost is MC = 2Q. Calculate the deadweight loss resulting from a monopoly in this market
What will be an ideal response?
Under which conditions might economies of scale result?
A. hampered coordination brought about by bureaucracy B. increasing costs of inputs C. increasing output prices D. workers having to spend less time switching back and forth between tasks.
Suppose a country has a current account surplus and that there is no intervention by finance ministries or central banks. This current account surplus indicates that the country has
A. a surplus in its financial account. B. the official reserve transactions balance is positive. C. the official reserve transactions balance is negative. D. a deficit in its financial account.