Market structure describes which of the following ...

[imowrer]

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

[firehawk60]

Answer to Question 1

d

Answer to Question 2

c

[imowrer]

Thanks for the timely response, appreciate it

[skipfourms123]

YES! Correct, THANKS for helping me on my review