A market structure in which identical goods are produced by several different firms and sold at the market determined price is referred to as:
A) an oligopoly.
B) a monopoly.
C) perfect competition.
D) monopolistic competition.
C
Economics
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Being the low price seller in the market is
A) the best place to be. B) not necessarily the best place to be. C) expected of large firms as they are subject to economies of scale. D) not as preferred as being the high price seller in the market.
Economics
A statement of opinion about which model best explains the economy is
a. an abstraction b. a positive statement c. a normative statement d. a philosophical conundrum e. empirically verifiable
Economics