The most prevalent market structures in the U.S. economy are perfect competition and monopolistic competition

In perfect competition, the

A) market demand for the good or service is large relative to the minimum efficient scale of a single producer. B) market demand for the good or service is small relative to the minimum efficient scale of a single producer. C) market demand for the good or service can be small relative to the minimum efficient scale of a single producer as long as the goods or services are not identical. D) size of the market demand for the good or service relative to the minimum efficient scale of a single producer does not affect competition.

The five most important variables that determine the level of ________ are disposable income, wealth, expected future income, price level, and interest rate

A) consumption B) government purchases C) net exports D) planned investment