Which of the following is a characteristic of perfect competition?
A: . A single seller.
B: . A small number of buyers.
C: . Buyers and sellers are price setters.
D: . Buyers and sellers are price takers.
A: . A single seller.
B: . A small number of buyers.
C: . Buyers and sellers are price setters.
D: . Buyers and sellers are price takers.
举一反三
- The international market price of goods is determined by the competition between buyers and sellers, namely, the law of supply and demand. It includes（ ） A: Competitive selling between sellers B: Competitive buying between buyers C: Competition between buyers and sellers D: Competitive buying between sellers E: Competitive selling between buyers
- The equilibrium price is a point at which buyers’ demand for a product and sellers’ supply of it are in balance.
- The long-run characteristics of perfect competition are as follows（ ）. A: Large number of buyers and sellers B: Homogeneous product C: Perfect information D: Free entry and exit
- 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.
- 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.