An example of perfect competition is when
a. many sellers compete and none control the market price
b. several electronic companies form a cartel
c. a seller decides to sell clothing, including shirts and jeans
d. a seller is misinformed causing him or her to overprice goods
Ans: a. many sellers compete and none control the market price
Economics
You might also like to view...
The cost of a one-unit increase in an activity is called the
A) rational cost. B) opportunity benefit. C) marginal cost. D) marginal benefit. E) margin.
Economics
Which of the following were invented centuries ago in China?
a. gunpowder b. the wheelbarrow c. printing with movable type d. all of the above
Economics