onA price-taking firm:O a. talks to rival firms to determine the best price for all of them tochargeO b. asks the government to set the price of its productO c. sets the product's price to whatever level the owner decides uponO d. cannot influence the price of the product it sellsWhich of the following is a positive economic statement?O a. Governments should not redistribute incomeO b. Households are the primary sources of savingsO c. The foreign sector should be more tightly controlledO d. Businesses ought to contribute more to charities

As per honor code, we’ll answer only one question at a time , we have answered the first question…

A price-taking firm: O a. talks to rival firms to determine the best price for all of them to charge O b. asks the government to set the price of its product O c. sets the product's price to whatever level the owner decides upon

A price-taking firm: O a. talks to rival firms to determine the best price for all of them to charge O b. asks the government to set the price of its product O c. sets the product's price to whatever level the owner decides upon

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

on
A price-taking firm:
O a. talks to rival firms to determine the best price for all of them to
charge
O b. asks the government to set the price of its product
O c. sets the product's price to whatever level the owner decides upon
O d. cannot influence the price of the product it sells
Which of the following is a positive economic statement?
O a. Governments should not redistribute income
O b. Households are the primary sources of savings
O c. The foreign sector should be more tightly controlled
O d. Businesses ought to contribute more to charities

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