When buying a car from a commission salesman you improve your bargaining position by
a. shopping when the new model year cars have just arrived
b. shopping when the showroom is full of customers
c. shopping when the car lot has many cars left unsold
d. shopping toward the beginning of the month
c
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What is the order in which an economy tries to solve the issue of resource allocation?
a. Production planning, distribution, and output selection. b. Output selection, production planning, and distribution. c. Production planning, output selection, and distribution. d. Distribution, production planning, and output selection.
Demand for inputs is a derived demand because
a. it is derived from the need for income. b. it corresponds to the derived supply of the inputs. c. producers want the input to produce the finished good. d. it is downward sloping.