When purchases of tennis socks decline following an increase in the price of tennis sneakers (other things remaining equal), the relationship between these two items can be described as

Explain the difference between nominal wages and real wages

What will be an ideal response?

A perfectly competitive market is a market that meets the conditions of

A. few buyers and sellers, all firms selling identical products, and no barriers to new firms entering the market B. many buyers and sellers, all firms selling differentiated products, and no barriers to new firms entering the market C. many buyers and sellers, all firms selling identical products, and significant barriers to new firms entering the market D. many buyers and sellers, all firms selling identical products, and no barriers to new firms entering the market