1.Positive: In a positive relationship both variables tend to move in the same direction: If one
variable increases, the other tends to also increase. If one decreases, the other tends to also.
Negative: In a negative relatio
COA-Micro economic final exam.
1. Factors required for perfect competition.
There are five factors five factors which structure the perfect competition market.
1) All firms must make identical products.
2) All firms are price takers.
1. (p. 25) Consider the table below, where each production choice represents a point on a production possibility curve.
This production possibility table could be graphed as a:
A. straight line with negative slope.
B. curved line with negative slope.