Which of the following statements is false?
A) Price determination is the key element in any market system.
B) Input prices influence a firm's costs of production.
C) Output prices influence a firm's revenues.
D) While managers must understand how output prices are determined, determination of input prices is irrelevant because it is beyond the manager's control.
D
Economics
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A typical university football program requires alumni to join one of several booster clubs (each club gets seats in different parts of the stadium) before the person can buy season tickets. What has this got to do with consumer surplus?
What will be an ideal response?
Economics
Refer to Figure 1A.2. The slope between points a and c is:
A. -5. B. -6. C. 10. D. 30.
Economics