The basic economic problem is
a. how to become wealthy
b. how to save the planet from pollution
c. how to equally distribute income
d. meeting people's wants and needs in a world of scacity
Answer: d. meeting people's wants and needs in a world of scacity
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Demand for U.S. dollars by speculators is likely to increase if the dollar is expected to depreciate in the near future
a. True b. False Indicate whether the statement is true or false
The figure below shows the demand for items from a warehouse club. All of the people who shop at the warehouse club have the same demand. If the managers set a single price, so that all customers pay the same price for every item they buy, the price will be ________ and the company will sell ________ units.
A) $10 per unit; 10 million
B) $6 per unit; 20 million
C) $6 per unit; 10 million
D) None of the above answers is correct.