Author Question: Price fixing is illegal in the United States. a. True b. False[br][br][b][color=black]Question ... (Read 111 times)

RYAN BANYAN · **on:** Jun 30, 2018

Price fixing is illegal in the United States.
a. True
b. False

Question 2

Which characteristic of perfect competition ensures that economic profit will be zero in the long run?
a. each firm's output is small in relation to total market supply
b. buyers and sellers are fully informed about the price and availability of all resources and products
c. the product is homogeneous
d. there is freedom of entry and exit in the market
e. firms are price takers