The theory of factor pricing uses supply-demand analysis
a. True
b. False
Indicate whether the statement is true or false
True
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Excess capacity for a firm in an oligopoly situation
A. cannot contribute to long run profit for a firm. B. is a deterrent to entry in the market by potential competitors. C. will be temporary if the planning was done right. D. encourages competitors to enter the market and build at optimal capacity.
The actual time length of the short run is determined by when diminishing marginal returns start
Indicate whether the statement is true or false
How do constraints on monetary policy in the United States differ from those experienced by euro zone countries?
What will be an ideal response?
A system of economic organization in which the ownership and control of productive capital assets rests with the state and in which resources are allocated through central planning and political decision making is called
a. socialism. b. a market economy. c. a corporate economy. d. capitalism.