In year 1 the CPI is 180, and in year 2 the CPI is 192. From year 1 to year 2, Javier's salary rises from $40,000 to $42,000, and Tom's salary rises from $55,000 to $57,000. Who is "more than keeping up with inflation"?

A seller's willingness to accept is the same as his:

A) total cost of production. B) marginal cost of production. C) fixed cost of production. D) average cost of production.

One of the implications of the kinked demand curve model is that even if a firm's costs change by a measurable amount, market price is unlikely to change. This helps explain the price rigidity observed in many oligopolistic markets

Indicate whether the statement is true or false