Unformatted text preview: APUS CLE : ECON201 BO01 Fall 15 X
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Question 3 of 17
0.0/ 10.0 Points
Which of the following is true in a perfectly competitive market?
O A. One unit of a good or service cannot be differentiated from any other on any basis.
* O B. Brand preferences exist but are very slight.
O C. Barriers to entry are relatively strong.
D. Information is costly.
Question 4 of 17
10.0/ 10.0 Points
The assumptions of perfect competition imply that:
O A. individuals in the market accept the market price as given.
OB. individuals can influence the market price.
C. the price will be a fair price.
O D. the price will be low.
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- Summer '16
- Dani Babb