Interaction of supply and demand

Reference no: EM13302959

Prices for commodities such as frozen orange juice or gold bullion are set by the interaction of supply and demand, whereas those for goods and services are set by the seller.

Which statement is true?

A. Sellers in commodity markets must be concerned about ways to increase marginal revenue.

B. Sellers in commodity markets must be concerned about cross elasticity when setting the price.

C. Sellers of commodities are price takers.

D. Sellers in noncommodity markets always make a profit.

Reference no: EM13302959

Questions Cloud

What is the marginal cost in a production situation : What is the marginal cost in a production situation? Where does the minimum point occur on the average cost curve?

Determine smallest values of c and k for static deflection : the turbopump unit in the engine nominally operates at 7000 rpm, and a result of design issue, the actual thrust provided by the engine oscillates harmonically with an amplitude of 10 KN at the same rotational frequency as the turbopump unit.

What is the cost of each alternative : Penn is trying to decide whether it should offer 40 percent of its stock or $95 million in cash to Teller's shareholders.

What is the forward rate for year 4-5 : You have estimated the spot rates as follows, r1=5%, r2=5.4%, r3=5.7%, r4=5.9% and r5=6%. Suppose the face value is $1000.

Interaction of supply and demand : Prices for commodities such as frozen orange juice or gold bullion are set by the interaction of supply and demand, whereas those for goods and services are set by the seller.

What is the refrative index of the lens : A double convex lens has equal curvature radii of 35 cm. What is the refrative index of the lens

What is the cost in terms of nominal apr : If a firm extends 3/10, net 45-day terms of sale. What is the cost in terms of nominal APR? Assume a 360-day year.

Calculate pressure in point 1 nd density of manometric fluid : A U manometer reads 20 cm air as operating fluid and a given manometric fluid. A single branch closed tube reads 35 cm connected to point 1. If P2 = 1.2 ATM calculate the pressure in point 1 and the density of the manometric fluid.

By what percentage will the blood flow rate be reduced : Assume blood flow using poiseuille's law. If cholesterol reduces the diameter of an artery by 20%, by what percentage will the blood flow rate be reduced

User Account

All Pages