Author Question: The concept of market structure refers to three main characteristics of buyers and sellers in a ... (Read 31 times)

asan beg · **on:** Jul 1, 2018

The concept of market structure refers to three main characteristics of buyers and sellers in a particular market. These include ____.
a. the degree of seller and buyer concentration in the market
b. the degree of actual or imagined differentiation between the products or services of competing producers
c. the pricing behavior of the firms
d. a and b
e. a, b, and c

Question 2

If the bidders at a first-price auction have true values of 8, 7, 6, and 5, the item will sell for
a. 8
b. 7
c. just over 7
d. just under 7