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Chapter 4 (sample exercise)

Chapter 4 (sample exercise) - Chapter 4(Multiple Choice)The...

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Chapter 4 (Multiple Choice)—The Market Forces of Supply and Demand 1. Which of the following is true? a. Buyers determine supply and sellers determine demand. b. Buyers determine demand and sellers determine supply. c. Buyers and sellers as one group determine supply. d. Buyers and sellers as one group determine demand. 2. In a competitive market, each seller has limited control over the price of his product because 3. Rank the 4 market types from most to least number of firms. 4. Which of the following would NOT be a determinant of demand?
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