In a competitive free market: Select one: A. the government does not impose price controls. B. there is no provision for the protection of property rights. C. there is only one seller and many buyers. D. all exchanges take place involuntarily.
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In a competitive free market:
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- What does the supply curve illustrate?a. The quantity suppliers are willing to sell at each and every production cost, all other things remaining unchanged.b. The quantity suppliers are willing to provide at each price level, all other things remaining unchanged.c. The quantity suppliers would like to buy at the current price.d. The quantity suppliers would like to sell at the current price.e. The quantity suppliers are willing to buy at each price level, all other things remaining unchanged.When a market is in equilibrium, which of the following is not correct Select one: a. the price determines which buyers and sellers participate in the market. b. those buyers who value the good more than the price choose to buy the good. c. those sellers whose costs are less than the price choose to produce and sell the good. d. the marginal cost of producing the last unit of the good is equal to consumers' marginal benefit from consuming the last unit e. the opportunity cost of producing the last unit of the good is equal to the absolute advantage of producing it.Competitive environment refers to the presence of in the market? Select one: a. market opportunity b. value proposition C. substitute products d. competitive advantage
- Equilibrium in the market is achieved when * A. there is the same number of buyers and sellers. B.there is no shortage or surplus of products. C. every buyer buys a product from the seller. D. buyers and sellers agree on the same price.Name the three markets.What are the three main virtues of the market system?
- Name and describe the four types of markets and the challenges they pose with respect to setting prices.Name and describe the types of costs marketers must consider when setting prices?Choose the letter of the correct/best answer. ____1. It summarizes the transactions between the consumer and producer. A. Circular Flow C. Interactions B. Illustrations D. Figures ____2. It shows that when price increases, quantity decreases. A. Law of Supply C. Law of Demand B. Law of the concept of Supply D. Law of the concept of Demand ____3. It shows that when price increases, quantity increases also. A. Law of Supply C. Law of Demand B. Law of the concept of Supply D. Law of the concept of Demand ____4. The relationship between price and quantity in the law of demand is _____. A. Positive C. Indirect B. Direct D. Negative ___5. The relationship between price and quantity in the law of supply is _____. A. Indirect C. Negative B. Direct…
- When a market is in equilibrium, a. There are still shortages, especially for fossil fuels. b. The quantity demanded equals the quantity supplied. c. All government regulations have been repealed. d. There are still some surpluses because sellers can be stubborn. Note:- Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism. Answer completely. You will get up vote for sure.To say that a market is in equilibrium implies that: Select one: a.the market allocates goods fairly. b.producers are earning a profit. c.the government is not intervening. d.the quantity that buyers are willing and able to buy equals the quantity that sellers are willing and able to sell.What is commodity A.something that producers unable to sell to consumers B.A resource that is available in unlimited quantities C.An exchange between a producer and a consumer D.something of value that can be bought sold or traded
