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Author Question: Which of the following would be consistent with the notion of a competitive market process, but ... (Read 81 times)

clippers!

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on: Jun 29, 2018
Which of the following would be consistent with the notion of a competitive market process, but would be inconsistent with the notion of perfect competition?
 
  A) Cost-plus-markup pricing
  B) Freedom of entry
  C) Price taking behavior
  D) Large numbers of buyers and sellers
  E) All of the above.

Question 2

Which of the following is most likely to occur if a price-takers' market displaces a price-searchers' market?
 
  A) Costs will be higher.
  B) Efficiency will be less.
  C) Net revenue will be larger.
  D) Output will be larger.
  E) Prices will be higher.


lucas dlamini

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Reply #1 on: Jun 29, 2018
Answer to Question 1

A

Answer to Question 2

D


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