One problem with the liberalization of economic supplements is that many of them automatically become more costly simply because wages have been increased

The LIFO retail method assumes that markups and markdowns apply to both beginning inventory and goods purchased during the period.

a. true b. false

Which of the following exemplifies a pure competitive market?

A) a market where many buyers and sellers trade over a range of prices rather than a single market price B) a market where a single firm controls the larger fraction of the market share C) a market where a few powerful firms control the larger fraction of the market share D) a market characterized by only a few large sellers E) a market where many buyers and sellers trade in a uniform commodity