Which of the following are NOT characteristics of a competitive market?
A) There is freedom of entry and exit.
B) There are zero transaction costs.
C) There are only one or two sellers.
D) Buyers and sellers have complete information.
C
Economics
You might also like to view...
To say that "supply increases" for any reason, means there is a
A) movement rightward along a supply curve. B) movement leftward along a supply curve. C) shift rightward in the supply curve. D) shift leftward in the supply curve.
Economics
If a particular choice that an individual faces gives him a benefit of $20 but costs $30, the net benefit from making this choice equals:
A) $20. B) $10. C) -$10. D) -$30.
Economics