Consumer purchases which are consumed at the time and place of purchase are categorized by the Bureau of Economic Analysis as
A) durable goods.
B) nondurable goods.
C) services.
D) investments.
C
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All consumption bundles along a given indifference curve are equally desirable
Indicate whether the statement is true or false
A perfectly competitive firm has no control over the
a. quantity of output produced b. quantities of inputs used c. price of the product d. type of good produced e. types of inputs used
If the idea of herd instinct is true, it suggests that the:
A. efficient-market hypothesis doesn't always hold. B. efficient-market hypothesis does, in fact, hold. C. inefficient-market hypothesis doesn't always hold. D. inefficient-market hypothesis does, in fact, hold.
Use the table below to answer the following question.ProducerMinimum Acceptable Product PriceActual Product Price (Equilibrium Price)Kimberly$6$13Drake713Nicki913Victoria1113Which producer has a producer surplus of $4?
A. Kimberly B. Victoria C. Nicki D. Drake