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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Questions asked by the same visitor
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)
Question
Expert Answered
Updated 75 days ago|6/8/2014 12:18:16 PM
2 Answers/Comments
A situation that makes the market behave inefficiently is when consumers do not have enough information to make good choices.
Added 75 days ago|6/8/2014 12:15:15 PM
Rationing is most likely to lead directly to a black market.
Added 75 days ago|6/8/2014 12:18:16 PM
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