Firms do not have market power in which of the following market structures?
A) perfect competition and monopolistic competition
B) perfect competition only
C) monopoly
D) oligopoly
B
Economics
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In economics, resources are also known as
A) minerals. B) factories. C) factors of production. D) human capital.
Economics
According to Keynesian economics, if there are unutilized resources in the economy and aggregate demand decreases
A) real GDP will rise and price level will remain constant. B) real GDP will fall and price level will remain constant. C) real GDP will rise and price level will rise. D) real GDP will rise and price level will fall.
Economics