Assume that disposable income equals $1000 and the mpc equals 0.6. If total consumption equal $800, then autonomous consumption is equal to

A subsidy payment, even if paid entirely to the seller, will impact the price, supply of, and quantity demanded of a good

a. True b. False Indicate whether the statement is true or false

A perfectly competitive producer faces a demand curve for its own product that is

A) downward sloping. B) upward sloping. C) horizontal. D) vertical.