The three major categories of resources are
a. human resources, physical resources, and natural resources.
b. scarce resources, capital resources, and abundant resources.
c. financial resources, global resources, and local resources.
d. common resources, private resources, and capital resources.
A
Economics
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A rising price level decreases consumption by decreasing the real value of household wealth
Indicate whether the statement is true or false
Economics
Exhibit 13-3 A monopolist
In Exhibit 13-3, if this industry is regulated and the regulatory commission sets price equal to average total cost, then:
A. this firm would earn excess profit. B. total revenue would equal marginal revenue. C. the firm would suffer losses. D. revenue would just be sufficient to cover costs.
Economics