The cost of production in an oligopolistic industry is identical for all the firms
a. True
b. False
Indicate whether the statement is true or false
False
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The demand for capital by a firm is based on the demand for the product that the capital produces. This relationship is referred to as
A. cost minimization. B. resource utilization. C. derived demand. D. product demand.
Under a market system, the people with information about buyers' desires, production technology and resources make the decisions
Indicate whether the statement is true or false
If a government budget deficit leads to a higher level of imports, with exports remaining fixed, the result will be a
a. smaller trade deficit. b. larger trade deficit. c. smaller surplus. d. larger surplus.
The market pricing system corrects an excess supply by
a. raising the product price and increasing producer profits. b. lowering the product price and decreasing producer profits. c. raising the product price and decreasing producer profits. d. lowering the product price and increasing producer profits.