A model in which individual producers act as price setters, because there are only a few sellers and the product they sell is not standardized, is called
A) imperfect competition.
B) perfect competition.
C) monopoly.
D) monopsony.
A
Economics
You might also like to view...
Real business cycle theory emphasizes the role of ________ in causing economic fluctuations
A) agriculture B) technological change C) natural disasters D) wars
Economics
If the U.S. exchange rate rises, the price to foreigners of U.S.-produced goods and services ________ and the quantity of U.S. dollars demanded ________
A) rises; decreases B) rises; increases C) falls; decreases D) falls; increases
Economics