• 2022-06-06
    中国大学MOOC: Unless markets are perfectly competitive, they may fail to maximize the total benefits to buyers and sellers.
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    • 0

      Which of the following characteristics is shared by both monopolistically competitive markets and perfectly competitive markets?

    • 1

      Which of the following statements is most accurate in regard to the tax division between buyers and sellers of products with perfectly elastic demand A: Sellers pay the entire tax. B: Buyers bear the entire tax burden. C: Buyers and sellers share the tax burden.

    • 2

      When a tax is placed on the buyers of lemonade A: sellers bear the entire burden of the tax. B: buyers bear the entire burden of the tax. C: burden of the tax will be always be equally divided between the buyers and the sellers. D: burden of the tax will be shared by the buyers and the sellers, but the division of the burden is not always equal.

    • 3

      A few sellers may behave as if they operate in a perfectly competitive market if the market demand is: A: highly inelastic. B: very elastic. C: unitary elastic. D: composed of many small buyers.

    • 4

      Producer surplus measures A: the benefits to sellers of participating in a market. B: the costs to sellers of participating in a market. C: the price that buyers are willing to pay for sellers' output of a good or service. D: the benefit to sellers of producing a greater quantity of a good or service than buyers demand.