Author Question: A brand name can be a source of market power. Indicate whether the statement is true or ... (Read 56 times)

tth · **on:** Jun 30, 2018

A brand name can be a source of market power.
Indicate whether the statement is true or false

Question 2

An increase in the demand for a product will cause output to:
a. increase and the demand for the resources used to produce the product to rise.
b. increase and the demand for the resources used to produce the product to fall.
c. decline, while the demand for the resources used to produce the product remains constant.
d. increase and the price of resources used to produce the product to increase if their supply is perfectly elastic.