All of the following are characteristics of a perfectly competitive market except:
A) a large number of sellers.
B) perfectly elastic demand.
C) a homogeneous product.
D) barriers to entry.
D
Economics
You might also like to view...
Over a business cycle, the quantities of capital, human capital, and entrepreneurial talent
A) change gradually and do not fluctuate much. B) cycle alongside real GDP. C) are completely unpredictable and cannot be forecast. D) cycle more than real GDP. E) are constant and do not change.
Economics
"A Nash equilibrium occurs when both parties to a game end up worse off as a result of the decisions that are made." Is the previous definition of a Nash equilibrium correct or incorrect?
What will be an ideal response?
Economics