Analysis that is limited to making either purely descriptive statements or scientific predictions is

The market power of a firm refers to its ability to

A) erect entry barriers in the industry. B) make a profit even when other firms in the industry are making losses. C) control its own output level while keeping its price the same as the prices charged by other firms. D) affect the market price for its industry's output.

The relative price inelasticity of demand for agricultural products has resulted in:

A. Prices fluctuating more in agriculture than in other industries B. Prices fluctuating less in agriculture than in other industries C. Higher prices for agricultural products D. Lower prices for agricultural products