In a market economy, prices help determine the distribution of goods and services but not the allocation of resources
a. True
b. False
Indicate whether the statement is true or false
False
Economics
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A sales tax is a type of consumption tax
a. True b. False
Economics
In an oligopoly, each firm knows that its profits
a. depend only on how much output it produces. b. depend only on how much output its rival firms produce. c. depend on both how much output it produces and how much output its rival firms produce. d. will be zero in the long run because of free entry.
Economics