What role do households play in output markets? What role do households play in factor markets?
What will be an ideal response?
Households are the buyers in output markets and are the sellers in factor markets.
Economics
You might also like to view...
Samsung provides a warranty for all goods it manufactures to indicate that these goods are of high quality. This is an example of ________
A) hedging B) signaling C) internalizing an externality D) sniping
Economics
In the figure above, if the firm is regulated using an average cost pricing rule, the economic loss created is equal to the area of
A) ABG. B) BEFG. C) BCFG. D) BCE. E) None of the above because there is no economic loss created.
Economics