Profit maximization depends upon demand conditions, as well as upon productivity and costs
a. True
b. False
A
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The above table has information about the hypothetical economy of Robotica. Based on the data, the size of M2 is
A) $2,600 billion. B) $2,610 billion. C) $610 billion. D) $600 billion. E) $1,710 billion.
The predominant condition that encourages governments to place price floors on markets is
a. the need for consumers to buy products at reasonable prices b. a war situation in which excess demands occur resulting in price increases c. a substantial increase in income, which shifts the demand curve to the left d. a series of substantial crop failures that shift the supply curve of food to the left e. technological changes that shift the supply curve to the right
Compare and contrast the effects of a tariff on prices and national well-being imposed in a small country with the effects of a tariff imposed in a large country. Illustrate your answer with the help of suitable diagrams.
What will be an ideal response?
Publicly provided health insurance for the poor will
A. raise the price of health care to the non-poor and decrease the total amount of health care consumed. B. decrease the total amount of health care consumed. C. raise the level of health care consumed by the non-poor. D. raise the price of health care to the non-poor.