Estimations of demand are used as input in this type of scenario:
A. understanding automobile demand to decide whether to offer below-market-rate loans for new cars.
B. as input into a firm's decision-making process.
C. understanding the demand for oil in order to impose a new oil import tax.
D. all of the above
D. all of the above
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Consumers in a monopolistically competitive market do not receive any consumer surplus because the price paid for the product exceeds the marginal cost of production
Indicate whether the statement is true or false
Which of the following is a false statement about education in the HPAE?
A) An emphasis on state funding of advanced degree programs, such as engineering and computer science, increased manufacturing production significantly. B) Literacy rates rose dramatically in the HPAE and laid a foundation for a skilled labor force. C) As the average educational level rose, workers could take on more technological, sophisticated production, pushing new investment into product lines. D) Spending was focused on the primary and secondary level, where it has the greatest social impact.