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Author Question: Which of the following is true of a competitive market? a. The rules of supply and demand do not ... (Read 51 times)

genevieve1028

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on: Jun 30, 2018
Which of the following is true of a competitive market?
 a. The rules of supply and demand do not apply to it.
 b. Buyers and sellers have little market power.
 c. Each buyer's or seller's effect on market price is substantial.
  d. Few sellers offer similar products.

Question 2

If some nonprice level determinant causes total spending to decrease, then the effect on aggregate demand will be a:
 a. movement upward along the curve.
 b. movement downward along the curve.
  c. shift to the left.
 d. shift to the right.


xiaomengxian

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Reply #1 on: Jun 30, 2018
Answer to Question 1

b

Answer to Question 2

c


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