Question and answer
When a firm sells a good or a service, the sale contributes to the nation’s income __________. A. We have to know whether the item being sold is a good or a service in order to answer the
question B. only if the buyer of the good or service is a household C. whether the buyer of the good or a service is a household, another firm, or the government D. only if the buyer of the good or service is a household or another firm
B. only if the buyer of the good or service is a household.
Expert answered|Alex S|Points 33|
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Asked 2/17/2013 2:13:18 PM
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Assume oligopoly firms are profit maximizers, they do not form a cartel, and they take other firms' production levels as given. Then in equilibrium the output effect __________. A. can be larger or smaller than the price effect B. must dominate the price effect C. must balance with the price effect D. must be smaller than the price effect
Weegy: Assume oligopoly firms are profit maximizers, they do not form a cartel, and they take other firms' production levels as given. Then in equilibrium the output effect b. must balance with the price effect. User: What you give up to obtain an item is called your __________. A. direct cost B. opportunity cost C. true cost D. explicit cost Weegy: What you give up to obtain an item is called your opportunity cost. (More)
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Asked 2/17/2013 2:06:48 PM
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