Most markets are not monopolies in the real world because
a. firms usually face downward-sloping demand curves.
b. supply curves slope upward.
c. firms usually equate price with marginal cost.
d. there are reasonable substitutes for most goods.
d
Economics
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The opportunity cost of an action is
A) everything that makes an action possible. B) the monetary payments that make an action possible. C) the sum of the human efforts that contribute to an action. D) the value of the next-best alternative that must be sacrificed to take the action.
Economics
Is $1,000 received today worth as much as $1,000 received one year from now? Explain your answer
What will be an ideal response?
Economics