Which of the following is characteristic of a perfectly competitive market?
a. There is free entry into and exit from the market
b. Individual firms can exert a perceptible influence on the market price.
c. Firms in the market produce a differentiated product.
d. All of the above are true.
a
You might also like to view...
A lower interest rate ________ Ap and thus causes ________ the IS curve
A) raises, movement downward along B) lowers, movement upward along C) raises, a parallel rightward shift of D) lowers, a parallel leftward shift of
Sue offers to pay Al $50 for each painting of his that she sells in her gallery. Each painting sells for $75. The cost to Al of producing each painting is $55. Which of the following statements is TRUE about this contract?
A) This contract is efficient. B) This contract maximizes joint profit. C) Al will not participate in this contract. D) This is a fixed-fee contract.
___ are controllable components of the communication process
Fill in the blank(s) with the appropriate word(s).
Which of the following types of expenditures is more volatile than plant and equipment investment?
A. consumption of nondurable goods B. consumption of services C. housing investment D. consumption of durable goods