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Author Question: The number of firms producing computer memory chips decreases. As a result, the price of a memory ... (Read 51 times)

ssal

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on: Jun 29, 2018
The number of firms producing computer memory chips decreases. As a result, the price of a memory chip ________ and the quantity of memory chips ________.
 
  A) rises; increases
  B) rises; decreases
  C) falls; increases
  D) falls; decreases

Question 2

A key reason for the existence of firms is that, compared to markets, firms often achieve lower
 
  A) explicit costs.
  B) transactions costs.
  C) accounting costs.
  D) scope of team production.


vickybb89

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Reply #1 on: Jun 29, 2018
Answer to Question 1

C

Answer to Question 2

B


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