What decisions will you need to make about features of your product or service.

True or false entrepreneurs try to meet the needs of the marketplace by supplying a service or product

(a) what do you think will happen if the price of non-gm crops continues to rise? why? (b) what will happen if the price of non-gm food drops? why?

In a perfectly competitive market, the long-run market supply curve tends to be horizontal or nearly so. what is another way to state this fact? (a) market supply is much more elastic in the long run than the short run. (b) in the long run, average total cost is minimized. (c) in the long run, price equals marginal cost. (d) market supply is much less elastic in the long run than the short run.