Compared with price searchers' markets, price takers' markets are likely to result in
A) less advertising.
B) less competition.
C) lower output.
D) more profit.
A
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Setting a proper price is difficult in a nationalized industry because
a. costs will not be restricted by competitive pressures b. the government will have difficulty purchasing resources c. the government will have difficulty estimating demand for the product d. there is a consumer bias against government-supplied products e. government will not have access to relevant information
Rapid population growth can be an obstacle to economic development:
A. because it can translate a relatively large increase in real output into a small increase in real output per capita. B. because more investment will be required to simply maintain the quantity of capital goods per person. C. because it may lead to the overutilization and therefore ecological degradation of farmland. D. for all of these reasons.