Which of the following characteristics of a competitive market make auction sites such as eBay so popular?
A) There is freedom of entry and exit.
B) There are very low transaction costs.
C) There are only one or two sellers.
D) Buyers and sellers have complete information.
B
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A production possibilities curve determines the price at which goods trade
Indicate whether the statement is true or false
The quantity of newspapers sold will decline if
a. newsprint becomes more expensive. b. the printers' union makes wage concessions. c. prices are reduced. d. magazine prices rise.
The U.S. Treasury used the First Bank of the United States for all of the following purposes except _____.
(A) To issue representative money. (B) To set interest rates. (C) To hold money generated by taxes. (D) To help the government carry out its powers to tax.
Which of the following pricing strategies is NOT used in markets characterized by intense price competition?
A. Price matching B. Transfer pricing C. Inducing brand loyalty D. Randomized pricing