Which of the following would prevent a market from being classified as perfectly competitive?
a. there are many buyers and sellers in the market
b. it is easy for new firms to enter the market
c. it is easy for existing firms to exit the market
d. buyers perceive significant differences among the products of different sellers
e. each buyer purchases only a tiny fraction of the total market quantity
D
You might also like to view...
According to the graph shown, producer surplus is:
A. $10. B. $2. C. $20. D. $6.
A significant increase in the government budget deficit is likely to:
a) Reduce injections into the economy b) Reduce national income c) Move the economy away from full employment d) Boost aggregate demand
Over the long haul, rapid increases in the supply of money lead to
A) inflation. B) higher levels of production and real output. C) rapid growth of real wages. D) lower unemployment rates
Exhibit 9-1 Monopolist's demand curve
?
In Exhibit 9-1, the marginal revenue curve corresponding to the monopolist's demand curve would be a straight line drawn between points:
A. A to B. B. A to D. C. C to B. D. C to D.