Which of the following is a characteristic of a perfectly competitive market?
A. a large number of firms in a market
B. selling a standardized product
C. no barriers to entry
D. All of these
Answer: D
Economics
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Other things constant, the quantity theory of money concludes that any increase in the quantity of money
A) decreases the demand for money. B) decreases in the aggregate price level. C) decreases the aggregate level of nominal income. D) proportionally increases the price level.
Economics
The "long run" is defined as a period of time long enough for the quantities of all of the inputs to production to vary
Indicate whether the statement is true or false
Economics