Which of the following statements is false? A) Price determination is

Which of the following statements is false?

A) Price determination is the key element in any market system.
B) Input prices influence a firm’s costs of production.
C) Output prices influence a firm’s revenues.
D) While managers must understand how output prices are determined, determination of input prices is irrelevant because it is beyond the manager’s control.

 

ANSWER

D

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