A firm that accepts the price as determined by industry supply and demand is called a _______.
Fill in the blank(s) with the appropriate word(s).
price taker (or perfect competitor)
Economics
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In a monopoly, consumer surplus decreases and producer surplus increases.
a. true b. false
Economics
Fannie Mae and Freddie Mac both
A) sell bonds to investors and use the funds to purchase mortgages. B) help regulate the banking system. C) directly lend funds to people seeking mortgages. D) reduce access to funds for mortgages by purchasing existing mortgages.
Economics