In a perfectly competitive market:
A. there are a few buyers.
B.there is a cartel.
C. no single buyer or seller can significantly affect the market price.
D.there is a single seller.
C. no single buyer or seller can significantly affect the market price.
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Goods in the CPI inflation are weighted by
a. the price of each good. b. the share of each good in GDP. c. the share of each good in the budget of an average household. d. the share of each good in total consumption.
On a production possibilities curve diagram, greater entrepreneurship:
a. causes the curve to shift outward. b. keeps the economy on the curve. c. prevents movement along the curve. d. keeps the economy at the corners of the curve.
An investment in an economy's human and physical capital results in an increase in the: a. supply of money
b. inflation rate in the economy. c. gross domestic product of the economy. d. level of foreign reserves in the economy.
If the demand for loanable funds shifts to the left, then the equilibrium interest rate
a. and quantity of loanable funds rises. b. and quantity of loanable funds falls. c. rises and the quantity of loanable funds falls. d. falls and the quantity of loanable funds rises.