In a market economy, ________ interact in markets to decide the answers to the fundamental economic questions
A) the judicial and legislative branches of the federal government
B) large corporations
C) households and firms
D) state and local governments
C
Economics
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When we calculate the price elasticity of demand, we use percentages of the average price and the average quantity in order to get the same value for the elasticity regardless of whether the price falls or rises
Indicate whether the statement is true or false
Economics
In economics, products are considered "differentiated" only if
a. they are physically or chemically different b. sellers decide that they are different c. buyers think that they are different d. the government determines that they are different e. they are produced by different firms
Economics