In most markets, prices are determined when suppliers (or demanders) set prices:
A) in many ways, too many to list.
B) independently of each other.
C) and demanders (or suppliers) accept or reject them.
D) after consulting their competitors (or neighbors) .
Correct Answer:
Verified
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A)the difference between value and
Q15: The aggregate gains from trade in a
Q16: The assumption of large numbers in economics:
A)allows
Q17: . Suppose the market demand for fish
Q18: All of the following assumptions apply to
Q20: In the long run equilibrium:
A)price is equal
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Q23: Market supply is:
A)is the sum of the
Q24: A competitive equilibrium:
A)is never Pareto- optimal.
B)requires a
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