According to your text, competition generally requires
A) fixed costs.
B) fixed prices.
C) fixed profits.
D) detailed government regulation.
E) none of the above.
E
You might also like to view...
If the Fed wishes to increase the money supply it can
A) increase reserve requirements. B) sell securities to banks and/or the public. C) increase the rediscount rate. D) None of the above is correct.
Price ceilings often generate
A) market clearing prices. B) rapid increases in supply to meet the excess demand. C) equilibriums that utilize rationing by price. D) black markets.
Demand for farm products, in general, is said to be relatively price inelastic. Therefore, U.S. farm policy, which is designed to keep farm prices above equilibrium, should
a. decrease farm incomes b. increase farm incomes c. not affect farm incomes d. reduce the number of farmers e. lower food prices for consumers
The value of Best Bank's accounting profits was $35 million.
a. $1,000 b. $100 c. $10 d. $1