A competitive market is a market in which_______.
A: an auctioneer helps set prices and arrange sales.
B: there are only a few sellers.
C: the forces of supply and demand do not apply.
D: no individual buyer or seller has any significant impact on the market price.
A: an auctioneer helps set prices and arrange sales.
B: there are only a few sellers.
C: the forces of supply and demand do not apply.
D: no individual buyer or seller has any significant impact on the market price.
举一反三
- In ___________, there is more supply than demand, buyers are at an advantage and prices are low. A: buyer's market B: seller's market C: bull market D: bear market
- The<br/>lowest price that ensures a continuous supply of the proper quality<br/>where and when needed and allows the supplier to make a reasonable<br/>profit, is commonly known as() A: a market price. B: a cost-based price. C: a buyer’s market price. D: a seller’s market price. E: a fair price.
- 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.
- If a monopolist engages in three-degree price discrimination in two segmented markets, but the firm's cost function is the same in both markets, in which market will the firm set a higher price? A: The larger market in terms of market size B: The smaller market in terms of market size C: The market with more elastic demand D: The market with less elastic demand
- When an individual firm in a competitive market increases its production, it is likely that the market price will fall.