A market structure in which a small number of firms compete is called

The slope of the consumption function relates changes in consumer spending to changes in disposable income received by consumers. This is called:

a. the marginal propensity to consume. b. the average propensity to consume. c. the utility-maximization function. d. the marginal rate of transformation.

An import quota will

A) lead to a shift of the demand curve. B) leave the equilibrium price unchanged and increase the quantity sold. C) limit the amount of a foreign good that can be brought into the United States. D) limit the amount of a good local producers can make.