When using expert opinion, consumer surveys, test marketing, and price experiments to analyze consumer behavior, managers must consider whether the answers given in these formats represent actual market behavior

When negative externalities exist, the competitive market supply curve does not include all of the costs borne by members of society

Indicate whether the statement is true or false

The two main characteristics of the production function are

A) it slopes downward from left to right, and the slope becomes flatter as the input increases. B) it slopes upward from left to right, and the slope becomes steeper as the input increases. C) it slopes upward from left to right, and the slope becomes flatter as the input increases. D) it slopes downward from left to right, and the slope becomes steeper as the input increases.