Which of the following is not a characteristic of a perfectly competitive market?
A. a large number of firms in a market
B. selling a standardized product
C. substantial barriers to entry
D. an individual firm having no control over price
Answer: C
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The authors of this text argue that oligopolies are interdependent firms. What do they mean by this? Give three examples of the types of interdependence which might occur.
What will be an ideal response?
Which of the following programs provides loans of U.S. securities to primary dealers for one- month terms, in an effort to enhance liquidity in U.S. securities markets?
A. Primary Dealer Credit Facility. B. Commercial Paper Funding Facility. C. Term Asset-Backed Securities Loan Facility. D. Term Securities Lending Facility.
Give an example of a cyclically unemployed person
What will be an ideal response?
Total costs increase from $1500 to $1800 when a firm increases output from 40 to 50 units. Which of the following are true?
a. AVC rise by $300 b. AVC rise by $1800 c. AVC rise by $1500 d. AVC rise by $0