Question and answer
. How much control over price do companies in a perfectly competitive market have? A. none B. very little C. some D. total control
A.None. Firms are price-takers in a perfectly competitive market.
Expert answered|liviaa|Points 626|
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Asked 12/29/2011 11:23:49 AM
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Why do fads often lead to shortages, at least in the short term? A. Buyers and sellers are unable to agree on a price for the good. B. Laws prevent stores from responding to excess demand in time to prevent a shortage. C. Manufacturers charge extremely high prices for the goods that stores are unwilling to pay. D. Demand increases so quickly and unexpectedly that time is needed for the quantity supplied and price to ...
Weegy: The answer is D. Demand increases so quickly and unexpectedly that time is needed for the quantity supplied and price to increase to reach a new equilibrium point . Hope this helps. (More)
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Business and Money|No Subcategories|Expert Answered
Asked 12/28/2011 9:04:04 AM
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Why did Communist governments use a command economic system for many years? A. as a way to avoid the expense and difficulties of a free market B. in an attempt to create a society in which everyone was equal C. to limit the costs of production of many goods D. as a method of keeping the consumer from getting what he or she wanted
Weegy: Communist governments use a command economic system for many years D. as a method of keeping the consumer from getting what he or she wanted . (More)
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Business and Money|No Subcategories|Expert Answered
Asked 12/28/2011 9:45:24 AM
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Which of the following is a situation that makes the market behave inefficiently? A. when consumers do not have enough information to make good choices B. when producers have the power to find out exactly what to produce C. when both consumers and producers are fully informed about a product D. when the market is in perfect competition and prices are high
Weegy: when the market is in perfect competition and prices are high, then it makes the market behave inefficiently User: Which of these is most likely to lead directly to a black market? A. a supply shock B. a price floor C. rationing D. equilibrium Weegy: supply shock leads directly to a black market (More)
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Asked 12/28/2011 10:41:57 PM
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