Demand shows the ________relationship between __________and ________________.
a. direct; price; quantity
b. inverse; price; quantity
c. inverse; supply; quantity
d. direct; supply; quantity
b. inverse; price; quantity
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A cartel is a group of firms which agree to
A) behave competitively. B) raise the price of their product. C) lower the price of their product. D) increase the amount they produce.
________ is a company that provides advice to firms issuing new securities, underwrites the issuing of securities, and develops new securities
A) A mutual fund B) A pension fund C) A hedge fund D) An investment bank
In a competitive market, the demand and supply curves are Q = 12 - P and Q = 5P, respectively. If output is fixed at Q = 5, what is the amount of the resulting deadweight loss?
A) 0 B) 5 C) 10 D) It cannot be determined without more information.
Changes in the rental price of land is largely determined by: a. changes in the supply of land
b. changes in the demand for land. c. changes in the elasticity of supply of land. d. the creation of new landfills.