The characteristics that describe a perfectly competitive industry include
A) many firms selling an identical product.
B) one firm selling to many buyers.
C) many firms selling a slightly differentiated product.
D) a few firms selling to many buyers.
E) None of the above answers is correct.
A
Economics
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In the above figure, suppose the economy is initially at point a. If the nominal interest rate increases, there is a movement to point such as
A) b. B) c. C) d. D) e.
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Lack of well-defined ____ may cause market failures
a. fiscal policies b. public transportation systems c. private property rights d. interest rates e. monetary policies
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