Investments that a bank makes are known as:

Which of the following is not a necessary characteristic of a purely competitive industry?

A. The industry- or market demand is highly elastic B. Firms can enter or leave the industry C. There are so many firms that none can influence market price D. Consumers see no difference between the product of one firm and that of another

A seller's reservation price is generally equal to:

A. the market price. B. the seller's marginal benefit from producing an additional unit. C. the buyer's reservation price. D. the seller's opportunity cost of producing an additional unit.