Market demand curves may slope downward even if some individual demand curves do not because
a. the law of demand requires that this is true.
b. lower prices may bring more purchasers into the market.
c. merchants try to sell more at lower prices.
d. people believe expensive goods are better goods.
b
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In general, individuals and nations should specialize in producing goods ________ other individuals or nations.
A. for which they have a lower opportunity cost compared to B. that they can produce more quickly than C. that they can produce less quickly than D. for which they have a higher opportunity cost compared to
What action did many Japanese car manufacturers take in response to the stronger yen following the 2007-2009 financial crisis?
A) They only accepted payments in the form of yen. B) They chose to target China as the primary market for exports. C) They abandoned the market in the United States. D) They moved their production to the United States.
A self-managed team is still headed by a boss
Indicate whether the statement is true or false
From the perspective of consumers, a quota is preferred to a tariff.
Answer the following statement true (T) or false (F)