In Arriving at the Quantity of Output and Price of Its

question 178

Multiple Choice

In arriving at the quantity of output and price of its product, a company

• A)chooses both price and quantity, since it understands its demand relationship.
• B)cannot set price or quantity; this is done by the market.
• C)makes two separate decisions about quantity and product price.
• D)can set price but quantity is determined by market demand.

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Definitions:

Condensation Polymer

A type of polymer formed by the reaction of monomer molecules, where each reaction results in the elimination of a small molecule, such as water.

Dacron

A registered trademark for a polyester fiber that is durable, resistant to stretching and shrinking, and used in textiles.

Addition Polymer

A polymer formed by the sequential addition of monomer molecules with unsaturated bonds, without the loss of any molecule or atom.

Condensation Polymer

A type of polymer formed by the reaction of two monomers with the release of a small molecule, often water, in the process.