Which of the following is a characteristic of perfect competition?
a. homogeneous products
b. many sellers
c. many buyers
d. all of the above
d
Economics
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Among all assets, only money can be a
A) unit of account. B) store of value. C) medium of exchange. D) a way of amassing wealth.
Economics
In a perfectly competitive market, producers efficiently use their scarce resources to produce what consumers want and as a result they achieve: a. productive efficiency
b. allocative efficiency. c. economic efficiency. d. constant returns of scale.
Economics