Capitalism is the economic system that best describes what is currently happening in the world economy
Indicate whether the statement is true or false
True
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An HVAC company is selling heating and cooling equipment. Between its sales staff and the VP of Marketing, the sales staff would want to
a. Price aggressively to ensure sales are made b. Price less aggressively to ensure that profitable sales are made c. Price at cost to minimize sales d. None of the above
A firm's cost of variable inputs per unit of output is known as
a. average total cost b. average fixed cost c. marginal cost d. total variable cost e. average variable cost
A price ceiling keeps a price:
a. from rising above a certain level. b. from decreasing below a certain level. c. at a stabilized point. d. from increasing or decreasing.
An advantage of a consumption tax is that it does not distort the incentive to save
a. True b. False Indicate whether the statement is true or false