A: there are restrictions on entry into the market
B: firms in the market have advantages over firms that plan to enter the market
C: only firms know their competitors' prices
D: there are many firms that sell identical products
举一反三
- In a perfectly competitive market, many firms sell an identical product.
- Which of the following characteristics is common to monopolistic competition and perfect competition? A: Firms produce identical products. B: Entry barriers into the industry are low. C: Each firm faces a downward-sloping demand curve. D: Firms take market prices as given.
- Which of the following correctly describes an oligopoly? A: A single firm has all of the market power. B: Several firms have market power and there is free entry and exit. C: Several firms have market power and there are barriers to entry. D: Several firms take the price as given and there is free entry and exit.
- What is the defining characteristic of imperfect competition?() A: The<br/>firms are subject to government regulation. B: The<br/>firms have some degree of market power. C: The<br/>firms choose to collude. D: The<br/>firms act like a cartel.
- Which of the following statements is most accurate regarding the characteristics of a perfectly competitive market A: Firms" products are different. B: The competitors never earn economic profits. C: Barriers to entry into the market are nonexistent.
内容
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18) According to the circular flow model A: . in the market for goods and services, households are buyers and firms are sellers. B: . the market for goods and services, households are sellers and firms are buyers. C: . in the market for factors of production, households are buyers and firms are sellers. D: . firms are the owners of the factors of production.
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In monopolistically competitive markets, free entry and exit suggests that A: the market structure will eventually be characterized by perfect competition in the long run. B: all firms earn zero economic profits in the long run. C: some firms will be able to earn economic profits in the long run. D: some firms will be forced to incur economic losses in the long run.
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What links the decisions of consumers and firms in a market?
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Because economic profits are eliminated in the long run in monopolistic competition, to make an economic profit, firms continuously develop and market new products。(<br/>)
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________ are those runner-up firms that are working to increase their market share in an<br/>industry. A: Market leaders B: Market challengers C: Market followers D: Market nichers