Unformatted text preview: Determine whether the following statements are TRUE OR FALSE. Statement 1: The invisible hand will drive marginal costs of all competitive industries towards the same level. Statement 2: Competitive firms which refuse to adopt cost-saving technology will be driven out of the industry eventually. Select one: A a. Statement 1: True; Statement 2: False o b. Statement 1: False; Statement 2: True .1
A c. Statement 1: False; Statement 2: False A d. Statement 1: True; Statement 2: True ...
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- Spring '14