According to your authors, the following is a necessary condition for a competitive market:
A) Large numbers of buyers and sellers
B) Full and complete information
C) Freedom of entry
D) Identical products
E) All of the above.
C
Economics
You might also like to view...
An apparel manufacturer bought raw materials worth $60,000 in a particular year and earned a total revenue of $90,000. If he had no other expenditure, he added a value of ________ to the production process
A) $30,000 B) $90,000 C) $150,000 D) $12,000
Economics
Most less-developed countries have a very low percentage of population under the age of 15
Indicate whether the statement is true or false
Economics
Well functioning financial markets promote what?
A) inflation.
B) deflation.
C) unemployment.
D) growth.
Economics
Production possibilities curves can shift outward but they do not shift inward
Indicate whether the statement is true or false
Economics