Which of the following statements is true about a product market? a. the cost of labor does not affect the product market because it is an insignificant part of an organization's costs. b. product-market considerations are of particular concern to a company when its customers place greater importance on product rather than price. c. organizations in a product market are competing to serve the same customers. d. product markets typically place a lower limit on the pay an organization will offer its employees. e. organizations in a product market must increase the cost of labor every quarter.

The interaction of individual choices because a type of fish is on the verge of extinction, the government imposes rules that prohibit fishing in the publicly owned spawning grounds. at first owners of fshing bouts complain about this restriction on where they can fish, but soon they notice that the number of adult fish swimming outside the protected area is much higher than it was before. with the restriction, each fishing boat ends up catching more fish than it did before the r which of the following principles of economic interaction best describes this scenario? o there is a tradeoff between equality and efficiency o markets usually lead to efficiency. o when markets do not achieve efficiency,government intervention can improve overall welfare o markets allocate goodseffectively