Suppose a firm in a competitive market reduces its output by 20 percent. As a result, the price of its output is likely to

If a firm decides to stop its sales agents from pricing too aggressively to make sales by requiring the agent to obtain permission to reduce price below a specific threshold, and the manager only has one source of information, the sales agent, the solution would

a. Work b. Not work c. Work in all circumstances d. None of the above

In the long run, a decrease in money supply, with the velocity of money stable or not decreasing, results in inflation

Indicate whether the statement is true or false