Which of the following is not characteristic of imperfect competition?

A) homogeneous products B) barriers to entry
C) few buyers and sellers D) Both A and C


Answer: A

Economics

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Consumer purchases which are consumed at the time and place of purchase are categorized by the Bureau of Economic Analysis as

A) durable goods. B) nondurable goods. C) services. D) investments.

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The four components that make up GDP in the expenditure approach are:

A. C, I, G, and NX. B. C, I, G, and EX. C. K, I, G, and NX. D. C, Im, G, and EX.

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Name some of the barriers to entry that can be created by a competitive firm to protect profits?

Economics

Price discrimination is illegal in the United States

Indicate whether the statement is true or false

Economics