Since a firm in perfect competition is a price taker, the demand curve for the firm's product is a horizontal line
a. True
b. False
Indicate whether the statement is true or false
True
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The term "economic freedom" means
A) the right to own private property. B) the right to trade goods and services. C) the right to own financial assets. D) all the above.
When the nation of Roma allows trade and as a result becomes an importer of scooters,
a. residents who produce scooters become worse off; residents who buy scooters become better off; and the economic well-being of Roma rises. b. residents who produce scooters become worse off; residents who buy scooters become better off; and the economic well-being of Roma falls. c. residents who produce scooters become better off; residents who buy scooters become worse off; and the economic well-being of Roma rises. d. residents who produce scooters become better off; residents who buy scooters become worse off; and the economic well-being of Roma falls.