Under perfect competition, the lure of profits makes producers try to equate marginal cost and price

The ________ approach relies on the right discretionary policy to close the gap through a ________ of the aggregate demand curve

a. passive; decrease b. active; increase c. passive; increase d. active; decrease

If all of the following examples are inelastic, which one will most likely have a decrease of revenue?

a. The price of cameras rises. b. The price of milk falls. c. The quantity supplied of lipstick declines. d. The quantity supplied of perfume remains constant.