The marginal propensity to consume (MPC) is equal to the inverse of the marginal propensity to save (MPS)

A premium death spiral occurs when healthy people leave an insurance pool, which causes premiums to increase, and that causes more people to leave the pool, which results in even higher premiums

Indicate whether the statement is true or false

Which of the following statements is (are) true concerning a pure competition situation?

a. Its demand curve is represented by a vertical line. b. Firms must sell at or below market price. c. Marginal revenue is equal to price. d. both b and c e. both a and b