What is imperfect competition?
What will be an ideal response?
Imperfect competition is an industry in which single firms have some control over price and competition. Imperfectly competitive markets give rise to an inefficient allocation of resources.
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Economic growth is
a. growth in inflation over time b. growth in real GDP over time c. growth in unemployment over time d. growth in net exports over time
If net interest and net transfers are $0, and a nation's purchases of foreign goods and services are $3.5 billion while its sales of goods and services to foreigners are $4.5 billion
A) it has a $1 billion surplus in its balance of payments. B) it has a $1 billion deficit in its current account. C) it has a $1 billion surplus in its current account. D) its capital and financial account shows a surplus.