The supply and demand model assumes
A) no buyer or seller can unilaterally influence the price of the product.
B) each unit sold is sold at the same price.
C) suppliers and demanders know the price of the product.
D) All of the above.
D
Economics
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If the opportunity cost of 1 wristwatch is 4 wall clocks in Japan and 2 wall clocks in Germany, it makes sense for Japan to produce wristwatches
Indicate whether the statement is true or false
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While studying with your friend, your friend states, "Our leisure time increases GDP but lowers our economic welfare because it reduces the amount of goods and services we can consume." Is your friend's statement CORRECT?
What will be an ideal response?
Economics