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If a entire output of a market is produced by a single sellerthe firm?
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When the market mechanism is allowed to operate freely prices will determine?
The mix of output to be produced, the resources to be used in the production process, and for whom the output is produced
When economists use market values to aggregate output they sum the what?
price times the quantity of each item produced
Which term applies to this definition?
The total output of a group of individuals and the entire economy will increase when each good is produced at the lowest cost.
The total output of a group of individuals and the entire economy will increase when each good is produced at the lowest cost.?
law of comparative advantage(Kaylop)
What is output growth?
A growth in the total output produced.
What is the difference between output and out comes?
Output is what is produced. Outcomes are the result of the output
The total output of a group of individuals and the entire economy will increase when each good is produced at the lowest cost?
law of comparative advantage(Kaylop)
What is a good sentence for output?
The information produced by a computer is called output.
What is markets in which firms sell their output of goods and services?
The product market is the market in which firms sell their output of goods and services.
What are selling agents?
Selling agents are middlemen who market a whole product line or a manufacturer's entire output. They perform all the functions of wholesaling, except that they do not take title of the product.
The market supply curve is?
The market supply curve shows the amount of goods/services produced at any given price. There is a direct relationship between output and price. That is, if the price of goods and services is high, then sellers will produce a large number of goods and services. Conversely, if the price of goods/services is low, then output will also be low.
What Is Color Output?
Output is not a color. It is the amount of something that is produced by a person, machine, or industry.
