An incentive is a
A. concept that does not actually affect people's behavior.
B. want.
C. reward for desired behavior.
D. need.
Answer: C
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Competition in the form of advertising, better customer service, or longer warranties can also reduce profits by raising costs
Indicate whether the statement is true or false
The price used to sell goods or services between subsidiaries in a company is
A) the tax avoidance price. B) set at the marginal cost of the producing subsidiary. C) determined by the minimum of the average cost curve. D) a transfer price.
Measures of elasticity enhance our ability to study the magnitudes of changes in quantities in response to changes in prices or income
a. True b. False Indicate whether the statement is true or false
How do economists sometimes measure physical capital in a country?
(A) The amount of roads and bridges per capita. (B) The number of computers that are available to businesses. (C) The amount of savings that the citizens have in the bank. (D) The number of telephones it has in relation to its population.