Which of the following is not a characteristic of perfect competition?
a. Many small buyers.
b. Different firms sell products with different features.
c. Ease of entry into and exit from the market.
d. Many small sellers.
B
Economics
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"A country's expenditure multiplier is constant over time." Explain whether the previous statement is correct or incorrect
What will be an ideal response?
Economics
If the price of orchids falls, the substitution effect due to the price change will cause
A) an increase in the quantity of orchids demanded. B) an increase in the demand for roses, a substitute for orchids. C) an increase in the quantity of orchids supplied. D) an increase in the demand for orchids.
Economics