A key assumption of the supply and demand model is that: firms will continue to raise prices until profits become positive. each firm produces at a level of output at which price exceeds marginal cost. each firm's good is unique and cannot be duplicated by other firms in the market. each firm in the market produces an identical good.

Plastic and steel are substitutes in the production of body panels for certain automobiles. if the price of plastic increases, with other things remaining the same, we would expect: a) the demand curve for plastic to shift to the left. b) the price of steel to fall. c) the demand curve for steel to shift to the left d) nothing to happen to steel because it is only a substitute for plastic. e) the demand curve for steel to shift to the right

Question 6 of 102 pointswhich situation shows a constant rate of change? oa. the number of tickets sold compared with the number of minutesbefore a football gameob. the height of a bird over timeoc. the cost of a bunch of grapes compared with its weightod. the outside temperature compared with the time of day

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