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Author Question: In the market for oranges, availability of substitutes limits a single seller's power over price. ... (Read 57 times)

mpobi80

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on: Jun 30, 2018
In the market for oranges, availability of substitutes limits a single seller's power over price.
  Indicate whether the statement is true or false

Question 2

In the short run, certain costs, such as rent on land and equipment, must be paid whether or not any output is produced. These are:
 a. the firm's variable costs.
  b. the firm's break-even costs.
  c. the firm's sunk costs.
  d. the firm's marginal costs.
  e. the firm's fixed costs.


batool

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Reply #1 on: Jun 30, 2018
Answer to Question 1

T

Answer to Question 2

e


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