Which idea is inconsistent with pure competition?
A. Price-taking behavior
B. Product differentiation
C. Freedom of entry or exit for firms
D. A large number of buyers and sellers
B. Product differentiation
Economics
You might also like to view...
Rich people who have more money than they know how to spend
A) no longer act under scarcity. B) no longer need to economize. C) no longer have to choose to advance one project over another. D) will still face a scarcity of their time.
Economics
Marginal social cost equals marginal ________ cost plus marginal ________ cost, and reflects the true marginal cost to society of an additional unit of production
a. fixed; variable b. implicit; explicit c. labor; capital d. private; external
Economics