All of the following help define market structure, except one. Which is the exception?
a. number of sellers
b. barriers to entry
c. barriers to exit
d. standardization of product
e. how firms are organized (i.e., as proprietorships, partnerships, or corporations)
E
Economics
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A principle is a self-evident truth that most people readily understand and accept
Indicate whether the statement is true or false
Economics
Market failure occurs when
A) a good is too expensive for the market to provide. B) an unrestrained market economy leads to too few or too many resources going to a specific economic activity. C) one good is superior to another and drives it out of the market. D) the stock market experiences a very large loss.
Economics