In the price system
A) prices are set by government action.
B) consumers alone set the price.
C) producers alone set the price.
D) prices are set by the interaction of supply and demand.
D
Economics
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Why is eradicating child labor seen as an economic investment?
What will be an ideal response?
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A promoter might charge less than the profit maximizing ticket price because
A. the talent may want to create a reputation for charging fair price so as to get more in the future. B. he believes his own "hype" about the demand for the event. C. he knows that the cost of constructing the facility is a "sunk cost" and must be ignored. D. all of the options are correct.
Economics