Which of the following statements is true?
a. A company can manipulate uncontrollable factors to increase the demand for its product
b. A company can manipulate uncontrollable factors to increase the supply of its product
c. A company cannot manipulate uncontrollable factors to increase the demand for its product
d. A company cannot manipulate controllable factors to increase the demand for its product
c
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If the opportunity cost of producing a T-shirt is ________ in China than in the United States, China has ________ advantage in producing T-shirts
A) lower; a comparative B) lower; an absolute C) higher; a comparative D) higher; an absolute E) higher; no
Wealth is measured as
A. A flow only. B. Neither a flow nor a stock. C. Both a flow and a stock. D. A stock only.
The ocean remains one of the largest unregulated resources for each of the following reasons except
a. many countries have access to the ocean. b. it is difficult to get international cooperation among countries that hold different values. c. the oceans are so vast that enforcing any agreements would be difficult. d. All of the above are reasons the ocean remains one of the largest unregulated resources.
A perfectly competitive firm faces a:
A. perfectly elastic demand function. B. demand function with unitary elasticity. C. perfectly inelastic demand function. D. None of the answers is correct.