What is wearing a red hat?
a. A communist party registeration
b. Use the name of the state institution to cover the private enterprises
c. It is a collectively owned by villagers
d. It is that the economy of China has trouble providing for all the needs of the people
e. All of the above
B
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In perfect competition, the price of the product is determined where the market
A) elasticity of supply equals the market elasticity of demand. B) supply curve and market demand curve intersect. C) average variable cost equals the market average total cost. D) fixed cost is zero.
For automobile demand in the U.S., the income response tends to be larger in the:
A) short run. B) long run. C) The income response is the same in the long run and the short run. D) We do not have enough information to answer this question.