A key characteristic of a competitive market is that
a. government antitrust laws regulate competition.
b. producers sell nearly identical products.
c. firms minimize total costs.
d. firms have price setting power.
b
Economics
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As firms gain market share, industries become more competitive
Indicate whether the statement is true or false
Economics
Reserves that banks are required by law to keep on hand to back up their deposits are called
a. required reserves. b. borrowed reserves. c. actual reserves. d. excess reserves.
Economics