Perfectly competitive markets are characterized by:
a. rivalry in product design
b. competition in terms of product quality.
c. attempts by sellers to outdo one another with good service.
d. none of the above.
d
Economics
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In conducting quantitative easing, the Fed may decide to purchase mortgage securities to do all of the following EXCEPT:
A. affect long-term interest rates. B. influence average home prices. C. reduce interest rates on home purchases. D. increase the amount of bank reserves.
Economics
Figure 5-5 shows a consumer budget line for French fries and hamburgers. The household allocates a budget for these two goods. Suppose that the price of an order of French fries is $2, what is household income?
A. $1 B. $2 C. $5 D. $10
Economics