Author Question: Your textbook argues that in a market system income is earned and distributed A) in the process ... (Read 74 times)

ARLKQ · **on:** Jun 29, 2018

Your textbook argues that in a market system income is earned and distributed

A) in the process of its creation.
B) as a result of the supply and demand for productive services.
C) in ways that might not be considered fair in all cases.
D) in all of the above ways.

Question 2

When its marginal cost increases, a firm aiming at maximizing net revenue

A) can always raise its price, but only by the amount of the cost increase.
B) can often raise its price by more than the cost increase.
C) can raise its price, but always by less than the cost increase.
D) may not be able to raise its price at all.