The circular-flow diagram illustrates that, in markets for the factors of production, ( ) A: households are sellers, and firms are buyers. B: households are buyers, and firms are sellers. C: households and firms are both buyers. D: households and firms are both sellers.
The circular-flow diagram illustrates that, in markets for the factors of production, ( ) A: households are sellers, and firms are buyers. B: households are buyers, and firms are sellers. C: households and firms are both buyers. D: households and firms are both sellers.
In perfect competition, ________. A: there are restrictions on entry into the market B: firms in the market have advantages over firms that plan to enter the market C: only firms know their competitors' prices D: there are many firms that sell identical products
In perfect competition, ________. A: there are restrictions on entry into the market B: firms in the market have advantages over firms that plan to enter the market C: only firms know their competitors' prices D: there are many firms that sell identical products
What is the defining characteristic of imperfect competition?() A: The<br/>firms are subject to government regulation. B: The<br/>firms have some degree of market power. C: The<br/>firms choose to collude. D: The<br/>firms act like a cartel.
What is the defining characteristic of imperfect competition?() A: The<br/>firms are subject to government regulation. B: The<br/>firms have some degree of market power. C: The<br/>firms choose to collude. D: The<br/>firms act like a cartel.
If firms in an industry earn zero profit, other firms would like to enter this market.
If firms in an industry earn zero profit, other firms would like to enter this market.
If firms in an industry enjoy positive profits, other firms would like to enter this market.
If firms in an industry enjoy positive profits, other firms would like to enter this market.
18) According to the circular flow model A: . in the market for goods and services, households are buyers and firms are sellers. B: . the market for goods and services, households are sellers and firms are buyers. C: . in the market for factors of production, households are buyers and firms are sellers. D: . firms are the owners of the factors of production.
18) According to the circular flow model A: . in the market for goods and services, households are buyers and firms are sellers. B: . the market for goods and services, households are sellers and firms are buyers. C: . in the market for factors of production, households are buyers and firms are sellers. D: . firms are the owners of the factors of production.
Firms maximize profit when
Firms maximize profit when
Examples of bricks-and-clicks firms include__________
Examples of bricks-and-clicks firms include__________
In the simple circular-flow diagram, the participants in the economy are A: firms and government. B: households and firms. C: households and government. D: households, firms, and government.
In the simple circular-flow diagram, the participants in the economy are A: firms and government. B: households and firms. C: households and government. D: households, firms, and government.
For monopolistically competitive firms in long-run equilibrium:
For monopolistically competitive firms in long-run equilibrium: