In the market for oranges, availability of substitutes limits a ...

[mpobi80]

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]

Answer to Question 1

T

Answer to Question 2

e