If two variables are inversely related, then as the value of one variable:
A. increases, the value of the other may either increase or decrease.
B. decreases, the value of the other decreases.
C. increases, the value of the other decreases.
D. increases, the value of the other increases.
Answer: C
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The clothing industry has many firms with differentiated products and no barriers to entry. The cereal industry has a few firms with either identical or differentiated products and moderate barriers to entry
The food industry is characterized as ________ and the cereal industry is characterized as ________. A) perfect competition; monopolistic competition B) monopolistic competition; oligopoly C) oligopoly; monopolistic competition D) perfect competition; perfect competition E) monopolistic competition; monopoly
A partnership is limited to how many owners?
A) 2 B) 5 C) less than 10 D) There is no limit to the number of owners.