Which of the following is not a characteristic of perfect competition?
a. A commodity product
b. A large number of independently acting sellers
c. Freedom of entry
d. The existence of externalities
e. Each firm is a price taker
D
You might also like to view...
In 1997, the Thai government was unable to maintain its exchange rate given the amount of international reserves
Indicate whether the statement is true or false
Since the 1870's, the decade with the slowest average annual percent growth rate in labor productivity was the 1970's
Indicate whether the statement is true or false
Demand is a schedule of
A) how much of a good a person wants. B) how much of a good people will purchase at each different possible price. C) how much of a good people will purchase at each income level. D) each possible price and the amount people will buy when their incomes change.
Which diagram in Figure 15.1 best represents the Keynesian view of investment demand when monetary policy is effective?
A. a. B. b. C. c. D. d.