When making decisions on pricing and other behaviors, oligopolistic firms must take into account the actions of other firms

Consumers increased consumption by a relatively small amount in 2008 and 2009 because they believed the tax cuts were temporary

a. True b. False Indicate whether the statement is true or false

Because the supply curve for land is inelastic, the price of land ______.

a. falls when the supply falls b. is determined by demand c. does not shift with demand d. rises when supply falls