A perfectly competitive industry is characterized by:
A. a single firm with control over the market price producing a product with no close substitutes.
B. many firms with no control over the market price producing identical products.
C. a single firm with limited control over the market price producing a product with many close substitutes.
D. many firms with control over the market price producing differentiated products.
Answers (1)
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “A perfectly competitive industry is characterized by: A. a single firm with control over the market price producing a product with no close ...” in 📗 Business if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers
You Might be Interested in
Suppose a profit-maximizing firm in a competitive market produces rubber bands. When the market price for rubber bands falls below the minimum of its averagetotal cost, but still lies above the minimum of average variable cost, in the shortrun the
Answers (1)
Perle, a dentist, billed Wood $600 for dental services. Wood paid Perle $200 cash and built a bookcase for Perle's office in full settlement of the bill. Wood sells comparable bookcases for $350.
Answers (1)
Underline all of the following costs that are included in the cost of land. a) Removal of unwanted buildings b) Lighting c) Fencing and paving d) Brokerage commission e) Survey fees and legal fees f) Purchase price g) Security system
Answers (1)
What are the five C's of the marketing mix?
Answers (1)
What effects does this journal entry have on the accounts? decrease cash and increase land decrease cash and decrease land increase cash and increase land increase cash and decrease land?
Answers (1)
New Questions in Business
Chen runs a consulting firm that provides strategies to companies that are into space exploration. What type of business does Chen own? A. manufacturing B. merchandising C. service D. wholesale
Answers (1)
A department store has budgeted sales of 12,000 men's suits in September. Management wants to have 6,000 suits in inventory at the end of the month to prepare for the winter season. Beginning inventory for September is expected to be 4,000 suits.
Answers (1)
Identify the strengths and weaknesses of a partnership
Answers (1)
The managers of a restaurant have decided to utilize the Hawthorne effect to increase productivity, which means using cameras to film employees at work in order to isolate the parts of a job. a. True b. False
Answers (1)
An airline expects to SELL one million gallons of jet fuel in one month and decides to use heating oil futures for hedging. We suppose the correlation between jet fuel price and heating oil price is 0.93, the volatility of heating oil price is 0.
Answers (1)