How does Ebay differ from an economist's view of a perfect competitive market?
a. Ebay has few buyers whereas perfect competitive industry assumes many buyers
b. Ebay has few sellers whereas perfect competitive industry assumes many sellers
c. There is limited information in ebay whereas perfect competitive industry assumes full information for both buyers and sellers
d. There is no difference between these two markets.
c
You might also like to view...
Marking to market involves
A) changing the futures price to the spot price each day. B) engaging in arbitrage so as to reduce the risk involved with futures contracts. C) crediting or debiting the margin account based on the net change in the value of the futures contract. D) updating the futures price after the market closes each day.
The simultaneous import and export of goods in the same industry by a particular country is known as interindustry trade
a. True b. False Indicate whether the statement is true or false