Which of the following describes a characteristic of a perfectly competitive market?
A) Equilibrium is achieved when demand for the product sold in the market equals the supply.
B) There are many buyers and sellers.
C) There are many sellers but few buyers.
D) There are many buyers but few sellers.
B
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The payment of a dividend by an American company to a foreign stockholder represents
A) a debit in the U.S. capital account. B) a credit in the U.S. current account. C) a credit in the U.S. official reserve account. D) a debit in the U.S. current account.
If the Real GDP increases from one year to the next, we could conclude the country experienced:
A. inflation and no change in output. B. an increase in output and no change in prices. C. a definite increase in output and may have experienced an increase in prices. D. definite inflation and may have experienced an increase in output.
Which of the following exemplifies how big-box retailer, such as Walmart or Target, benefits from economies of scale?
a. Each location performs its own negotiations for the purchase of wholesale stock. b. Staff at big-box stores are better positioned to get to know regular customers and connect with them. c. Large-scale ordering allows the purchase of stock at lower costs than smaller firms. d. The web ordering system has become popular with customers who prefer shopping online.
A variable that responds to a change in another variable is called a(n) _______ variable.
A) independent B) dependent C) theoretical D) all of the above are true