Which of the following is necessary for a market to be deemed "perfectly competitive"?
A) All firms are price searchers.
B) All participants enjoy full and complete information.
C) Sellers produce of different quality, durability, and desirability.
D) All of the above are necessary.
E) None of the above are necessary.
B
Economics
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Objects that have value because the holder can exchange them for something else of value:
a. fiat money b. commodity money c. currency d. representative money
Economics
The short run Phillips Curve shows there is ________ relationship between the unemployment rate and the rate of inflation.
A. a positive B. a constant C. a negative D. no
Economics