The law of supply states that other things being equal
A) supply creates its own demand.
B) supply will increase if productivity increases.
C) as price increases, quantity supplied increases.
D) supply will increase to meet demand if demand increases.
Answer: C
Economics
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In the short run both the monopolistically competitive firm and the perfectly competitive firm will charge a price equal to marginal cost
a. True b. False Indicate whether the statement is true or false
Economics
The late business historian Alfred Chandler blamed Britain's competitive difficulties in the early twentieth century on:
a. the structure of the firms. b. the removal of trade barriers. c. the lack of innovation. d. inefficient transfer of information within firms.
Economics