Which of the following is not a characteristic of a perfectly competitive market?
a. Firms are price takers.
b. Firms have difficulty entering the market.
c. There are many sellers in the market.
d. Goods offered for sale are largely the same.
b
Economics
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About _____ of the world's population live in LDCs.
Fill in the blank(s) with the appropriate word(s).
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A Lorenz curve summarizes the information provided by a Gini coefficient
Indicate whether the statement is true or false
Economics
What is the primary problem caused by adverse selection?
a. Straining the insurance system b. Creating healthcare exchanges c. Mandating insurance premiums d. Increasing government regulation
Economics
An oligopolist cares very much about what other firms in her industry are doing.
Answer the following statement true (T) or false (F)
Economics