If every firm is a price taker, then which of the following characteristics does their industry have?
a. large number of sellers
b. many versions of the product
c. limited resource mobility
d. few consumers
e. market power
A
Economics
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Recall the Application. The idea regarding the relationship between tax rates and tax revenues proposed by Yu Juo is very similar to the idea proposed by economist
A) Arthur Laffer. B) Adam Smith. C) Ben Bernanke. D) David Ricardo.
Economics
Explain how tax revenue can be both an automatic fiscal policy and a discretionary fiscal policy
What will be an ideal response?
Economics