An increase in the cost of lumbering activities will:
a. increase the quantity of wood supplied to the furniture market.
b. decrease the quantity of wood supplied to the furniture market.
c. decrease the supply of wood to the furniture market.
d. increase the supply of wood to the furniture market.
Question 2
Firms under perfect competition produce:
a. homogeneous products.
b. unique products.
c. either standardized or differentiated products.
d. differentiated products.
e. antique products.
