Goods used to produce other goods are known as

a. transitional goods
b. durable goods
c. nondurable goods
d. services
e. intermediate goods

E

Economics

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A monopoly firm

a. has a short-run supply curve that slopes upward. b. is a price taker. c. does not have a supply curve. d. is at the mercy of the market-determined price.

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The relative concept of poverty means that poverty will never be eliminated.

Answer the following statement true (T) or false (F)

Economics