Which of the following is not characteristic of perfect competition?

What does it mean to say that a good generates network externalities?

What will be an ideal response?

Coordination problems have led to the failure of command systems. Which of the following best exemplifies this problem?

A. Command economies try to minimize the use of capital goods, making production less efficient. B. Managers had no incentive to address market surpluses or shortages, as long as they met production goals. C. Workers were not motivated to work hard because of a lack of consumer goods to purchase. D. The complexity of production processes made it difficult to assure that all necessary inputs were provided at the right time and in the right amount.