Gift shops in a small town sell identical mugs to tourists. However, tourists don't have enough time to check out the prices one by one and don't have brochures listing prices of mugs. We can conclude
A) the market for mugs is perfectly competitive.
B) buyers have full information.
C) sellers are price takers.
D) the market is not perfectly competitive.
D
Economics
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If the current exchange rate is 0.65 British pounds per dollar, what is the dollar price of one British pound? If the exchange rate changes to 0.70 British pounds per dollar, what is the new dollar value of one British pound?
What will be an ideal response?
Economics
What is required for a positive externality to occur?
A) The full benefits of an action aren't taken into account. B) The intention or plan to directly help other people C) A concern for social welfare D) Courtesy and honesty E) All the above.
Economics