Which of the following is not a characteristic of perfectly competitive markets?
A. Long-run economic profits
B. Identical products
C. Many sellers
D. Free entry and exit
A. Long-run economic profits
Economics
You might also like to view...
If real disposable income increases, the average propensity to save will
A) decrease. B) increase. C) remain constant. D) initially increase, and then decrease.
Economics
Refer to the information provided in Figure 26.6 below to answer the question(s) that follow.
Figure 26.6Refer to Figure 26.6. Suppose the equilibrium output is initially $600 billion. A decrease in the Z factors ________ equilibrium output and ________ the price level.
A. decreases; leaves unchanged B. increases; increases C. leaves unchanged; increases D. increases; decreases
Economics