Author Question: Market structure describes which of the following characteristics? a. The ease of entry into and ... (Read 71 times)

imowrer · **on:** Jun 30, 2018

Market structure describes which of the following characteristics?
a. The ease of entry into and exit from the market.
b. The similarity of the product sold.
c. The number of firms in each industry.
d. All of these are true.

Question 2

In the short run, consumers typically ____ to price changes (when compared to the long run).
a. are very responsive
b. are more demand sensitive
c. are less demand sensitive
d. do not respond at all
e. overreact