If a price-taking firm selling in a competitive market raises the price of its product above the market-clearing price, it will:
a. increase its profits.
b. maintain its profit base since the demand for the product is inelastic.
c. be able to increase its sales.
d. not be able to sell any output.
Question 2
Which of the following results from the market system of resource allocation?
a. Equitable distribution of resources
b. High opportunity cost of production
c. Excess supply of goods and services resulting in decreased profits
d. Unequal distribution of income and wealth
e. Allocation of the goods and services to those who need them the most
Taking off is one of the main times albatrosses use flapping to fly, and is the most energetically d
the transamination product of tryptophan is decarboxylated to yield indole-3-acetic acid, or auxin
Importance of Considering Gestalt Principles in Product Design (2 of 2)
Find derivative using product rule
"The Department of Agriculture came out today with its prediction for food price