Is the number of sellers in the market the only thing that is different in each of the four market types economists study?
What will be an ideal response?
No, the number of sellers is not the only factor that differs; the degree of similarity of each firm's product also plays a role. For instance, in a perfectly competitive market, each firm sells an identical product whereas in a monopolistically competitive market, each firm sells a slightly different product.
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By the 2000s, an important change in the mortgage market had occurred when ________ became significant participants in the secondary market for mortgages
A) Federal Reserve Banks B) commercial banks C) savings banks D) investment banks
Using the above figure, if the government levies a new unit tax in this market, S represents the original supply curve, and St represents the after-tax supply curve, then the after-tax price paid by consumers is the vertical distance from the origin
to A) point A. B) point B. C) somewhere between point B and point A. D) point F.