Which of the following statements is true about a competitive market? A competitive market
A) has a handful of sellers but always has many buyers.
B) must have a physical location.
C) includes markets for goods and services but not for inputs.
D) has so many buyers and sellers that no one can influence the price.
E) has one seller competing to sell his or her product.
Question 2
Figure 4.3 illustrates the demand for tacos. An increase in the demand for tacos is represented by the movement from
A) point a to point b. B) point c to point b. C) D2 to D1. D) D0 to D1.
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