The entry of an additional firm into a market shifts the demand curve for the original firm to the left.
Answer the following statement true (T) or false (F)
True
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The assertion that income accrues to people as a consequence of interactions among suppliers and demanders
A) amounts to an endorsement of the existing system. B) amounts to an endorsement of the pattern of income distribution. C) ignores the fact that the interactions are often unfair. D) offers a way of approaching the issue of income distribution.
As a result of the bargaining advantages enjoyed by bureaus, they will generally have budgets that are ____
a. are larger than optimal b. are smaller than optimal c. optimal d. unable to be characterized in a general manner
The difference between the sale value of the product and the value of the inputs that went into it is called the:
A. value-added of that stage of production. B. value of the final product. C. profit margin. D. mark up.
Since 1973 the incidence of poverty has generally increased for
A. children. B. the elderly. C. married couples. D. All of the choices are true.