Which of the following is not an assumption of perfect competition?
A. Powerful buyers
B. Freedom of exit
C. Identical (or indistinguishable) products
D. Freedom of entry
Answer: A
You might also like to view...
Refer to the figure below. The equilibrium price is ________, and the equilibrium quantity is ________. 
A. $30; 15 B. $35; 20 C. $25; 5 D. $25; 20
With respect to unemployment, the classical model states that
A) unemployment of any kind cannot exist. B) involuntary unemployment will always exceed voluntary unemployment. C) unemployment fluctuates with the interest rate. D) only voluntary unemployment exists.
The process of bundling loans together and buying and selling these bundles in a secondary financial market is called
A) seigniorage. B) securitization. C) open market operations. D) fractional reserve lending.
Both parties gain in a voluntary exchange
a. True b. False Indicate whether the statement is true or false