Which of the following characterizes a perfectly competitive market?
a. a few firms fiercely competing by slashing prices
b. product differentiation through aggressive advertising
c. perfect information
d. limited resource mobility
e. barriers to entry such as licenses
C
Economics
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Financial intermediaries are institutions that
A) produce money for the federal government. B) regulate the activities of stock and bond markets. C) act as middlemen in the process of directing funds from savers to investors. D) oversee the activities of government institutions such as the Federal Reserve.
Economics
Which of the following has the greatest difference between short-run and long-run price elasticities of demand?
a. automobiles
b. jewelry
c. movies
d. salt
Economics