中国大学MOOC: Perfect competition exists when many consumers are buying standardized products from a few small businesses.
举一反三
- Which is the market structure in which many manufacturers produce and sell products that are different yet substitutable? A: Perfect competition B: Perfect monopoly C: Monopolistic competition D: Oligopoly
- 中国大学MOOC: When two or more products are produced from a common input these products are known as by products
- Buyer power is high when buyers have _________ choices from whom to buy and low when buyers have _________ choices. A: few; few B: few; many C: many; few D: many; many
- Some small businesses have neither the time ________ the resources to compete with these big businesses.
- 中国大学MOOC: Many economists believe that advertising helps increase competition, _______ leads to lower prices, thus benefiting consumers and the economy as a whole.