In perfect competition, firms are price makers
a. True
b. False
Indicate whether the statement is true or false
False
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If Happy Cows contractually requires distributors who purchase Happy Cows' milk to also purchase Happy Cows' cream, this is an example of ________.
A) territorial confinement B) a tying arrangement C) exclusive dealing D) a requirements contract
Taxation alters the behavior patterns of individuals
a. True b. False Indicate whether the statement is true or false
Suppose that your tuition to attend college is $14,000 per year and you spend $5,000 per year on room and board. If you were working full time, you could earn $26,000 per year. What is your opportunity cost of attending college?
A. $19,000 B. $31,000 C. $40,000 D. $45,000
When the Federal Reserve decreases the money supply, it generally does so by purchasing bonds.
Answer the following statement true (T) or false (F)