We study the simple model of competitive markets because it helps to:
A. provide useful insights to markets that are not perfectly competitive.
B. show how the government controls the economy.
C. indicate whether buyers or sellers matter more.
D. show how poorly the economy actually functions.
A. provide useful insights to markets that are not perfectly competitive.
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A monopolist, unlike a perfect competitor, has total control in its market because it is the single producer. Why, then, must a single-price monopolist decrease its price if it wants to increase its output?
What will be an ideal response?
All of the following have contributed to increased use of ATMs EXCEPT:
A) some banks charging customers for services performed by tellers than can be done by ATMs B) some banks closing branches in low-income neighborhoods C) ease by which customers can make use of ATMs to make deposits and withdrawals D) increased use of debit cards for transactions
The nominal rate of interest is any rate of interest below 3 percent
a. True b. False Indicate whether the statement is true or false
A survey done by the Bank of International Settlements found the _____________ market to be the largest market in the world economy.
a. online b. capital c. foreign exchange d. stock