Which of the following is NOT a characteristic of a competitive market
A) it has many buyers
B) it has many sellers
C) the products traded are identical
D) firms set the price (price makers)
Correct Answer:
Verified
Q1: A market is clearly NOT perfectly competitive
Q2: If a perfectly competitive industry is in
Q4: Which of the following statements is true,
Q5: A firm under perfect competition will maximize
Q6: The short-run supply curve of a firm
Q7: In perfect competition the shutdown point is
Q8: A monopoly is a _
A)price taker
B)price accepter
C)price
Q9: A monopoly is a _, therefore the
Q10: As output increases in a monopoly, the
Q11: Marginal revenue in a monopoly is:
A)always greater
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