Question:

Markets explained on the basis of supply and demand: PLEASE HELP!!!?

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A) assume many buyers and many sellers of a standardized product.

B) assume market power so tha tbuyers in a market, the lower will be product price.

C) do not exist in the real-world economy.

D) are approximated by markets in which a single seller determines price.

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2 ANSWERS


  1. A - closer to pure competition

    B - closer to monopsony (competition type)

    C - false

    D - monopoly (competition type)

    I think "A" should be right for multiple choice questions.


  2. What is your question exactly?

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