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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 ...
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Not Answered
Updated 3/15/2014 8:17:14 AM
1 Answer/Comment
Fads often lead to shortages, at least in the short term because : Buyers and sellers are unable to agree on a price for the good.
Added 3/15/2014 8:17:14 AM
This answer has been confirmed as correct, not copied, and helpful.
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 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 6/8/2014 12:15:15 PM
This answer has been confirmed as correct, not copied, and helpful.
Confirmed by yumdrea [6/8/2014 12:16:38 PM]
Rationing is most likely to lead directly to a black market.
Added 6/8/2014 12:18:16 PM
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