What role do business firms play in output markets and in factor markets?
What will be an ideal response?
In output markets, firms supply goods and services. In factor markets, firms demand factors of production.
Economics
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The above figure shows the market for blouses. The government decides to impose the sales tax on sellers, as shown in the figure. The amount of the tax paid by the sellers would be greater than shown in the figure if
A) the demand was more elastic. B) the demand was more inelastic. C) the supply was more elastic. D) Both answers A and C are correct.
Economics
List five types of barriers to entry
What will be an ideal response?
Economics