Firms with market power must decide all of the following except
A. how to produce it.
B. how much to supply in each input market.
C. what price to charge for their output.
D. how much to produce.
Answer: B
Economics
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Equilibrium in the market for funds occurs when the
a. lenders and borrowers are mutually satisfied at some interest rate. b. marginal revenue product of investment using the funds equals the interest rate. c. demand curve for funds and the supply curve for funds intersect. d. All of the above are correct.
Economics
When Peter earned $65,000 he purchased 10 novels a year. His income has just increased to $68,000 and he plans to purchase 15 novels this year. Peter's income elasticity of demand for novels equals
A. 8.87. B. 0.11. C. 1.67. D. 0.
Economics