Author Question: Market structure is defined as the: a. number of firms in each industry. b. similarity of the ... (Read 34 times)

MGLQZ · **on:** Jun 30, 2018

Market structure is defined as the:
a. number of firms in each industry.
b. similarity of the product sold.
c. ease of entry into and exit from the market.
d. all of these.

Question 2

Demand sensitivity depends on all of the following except:
a. how low is the price of the good.
b. the sensitivity of firms' output to changes in its price.
c. the consumer's income.
d. the availability and closeness of substitutes.
e. the amount of time a consumer has to adjust to price changes.