A market structure in which the decisions of individual buyers and sellers have no effect on market price is
A) monopoly.
B) monopolistic competition.
C) perfect competition.
D) oligopoly.
Answer: C
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You have one free movie to give away. Susie Wong would receive 75 units of utility from the pass while Ralph Zilda would get 90 units of utility from the pass. Movie tickets sell for $8 at the theater. You want to create the most satisfaction possible by giving away the pass. Who should the movie be given to?
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When housing prices increase, household wealth ________, and consumption ________.
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