A set of actions that a firm takes to achieve a goal, such as maximizing profits, is called

The percentage change in the quantity supplied in response to a percentage change in the price is known as the

A) slope of the supply curve. B) excess supply. C) price elasticity of supply. D) All of the above.

In which industry structure is advertising and sales promotion likely to be most important?

A) perfect competition B) monopoly C) monopolistic competition D) All of the above are equally reliant on effective advertising and promotion.