In a perfectly competitive market, all consumers:
A) are price takers.
B) set prices to compete in their market.
C) have exactly the same demand schedules.
D) have exactly the same tastes and preferences.
A
Economics
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What will be an ideal response?
Economics
All of the following are assumptions of both market and public-sector decision making EXCEPT
A. Decisions are motivated by individuals' self-interest. B. Opportunity costs exist in decisions. C. Decisions are based on majority rule. D. Choices reflect incentives faced by decision makers.
Economics