The market demand curve
a. and the individual demand curve are synonymous.
b. is calculated by multiplying the number of consumers by the individual demand curve.
c. shows how the total quantity demanded of some good changes as price changes, other things held constant.
d. can be calculated even if individual demand curves are unknown.
c
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A ________ system is one in which households pay the same percentage of their incomes in taxes regardless of their income level
A) progressive B) regressive C) proportional D) complementary
In the case of the perfectly competitive firm:
A) marginal revenue equals the market price. B) marginal revenue is greater than the market price. C) marginal revenue is less than the market price. D) marginal revenue is equal to, less than, or greater than market price depending on the level of output.
Wartime economic mobilization resulted in:
a. increased hours for workers. b. dramatic increases in the industrial accident rate. c. some reduction in the quality of output. d. Increased production rates. e. All of the above.
Centralization of all decision making in an organization is essential to protect the interests of its shareholders
Indicate whether the statement is true or false