Perfect competition is characterized by
A. many buyers and many sellers.
B. few buyers and few sellers.
C. few buyers and many sellers.
D. many buyers and few sellers.
E. a few companies that control the market.
Answer: A
You might also like to view...
If a wide retail assortment enables customers to undertake one-stop shopping, what is the benefit of a deep assortment?
a. less likelihood of having national brands b. ample selection within a product category c. quantity discounts on purchases d. meeting family members' needs
ViolentVideoGames, Inc markets a variety of shooting, fighting and hunting video games. A state statue is enacted that requires all video game manufacturers to label any games with an option to kill something as "excessively violent.".A court would likely hold this regulation to be
a. an unconstitutional restriction of speech. b. constitutional under the First Amendment. c. justified by the need to protect individual rights. d. necessary to protect national interests.
Congress enacted the Administrative Procedure Act in 1946
Indicate whether the statement is true or false
With a line of credit, the bank is compensated ________
A) based on the outstanding balance of the loan B) based on the principal value of the credit line C) exclusively with a fixed annual payment D) based on a fixed interest rate tied to the T-bill rate