Suppose prices for new homes have risen and sales of new homes have also risen. We can conclude that
a. the demand for new homes has risen.
b. the law of demand has been violated.
c. new firms have entered the construction industry.
d. construction firms must be facing higher costs.
A
Economics
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A competitive market is one in which:
A. government oversees its operation. B. individual sellers and buyers have a lot of influence over market price. C. fully informed price-taking buyers and sellers easily trade a standardized good. D. few large sellers compete for a majority of the market share.
Economics
If a competitive firm is in short-run equilibrium, then:
A. marginal revenue is equal to marginal cost. B. price is greater than marginal cost. C. price is equal to average variable cost. D. price is greater than marginal revenue.
Economics