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Why economists say competitive markets are efficient?
Economists say that competitive markets are efficient because when there is competition prices are lower. The more available an item, the less it will cost the consumer.
What are two types of competitive markets?
Monopolistic competition and oligopoly
In competitive markets a surplus or shortage will?
a Decrease in quolity and demand of the other
The goal of all regulation is the creation of perfectly competitive markets?
True
Why do competitive markets move toward equilibrium?
the process by which markets move to equilibrium is so predictable that economists sometimes refer to markets as being governed by the law of supply and demand.
Why economists say competitive markets are efficient?
Economists say that competitive markets are efficient because when there is competition prices are lower. The more available an item, the less it will cost the consumer.
What is Competitive Enterprise Institute's motto?
The motto of Competitive Enterprise Institute is 'Free Markets and Limited Government'.
What are two types of competitive markets?
Monopolistic competition and oligopoly
The goal of all regulation is the creation of perfectly competitive markets?
True
In competitive markets a surplus or shortage will?
a Decrease in quolity and demand of the other
What has the author Arvind Virmani written?
Arvind Virmani has written: 'Moral hazard in competitive loan markets' 'Adverse selection, competitive rationing and government policy in credit markets' 'The microeconomics of a corrupt tax bureaucracy'
Why do competitive markets move toward equilibrium?
the process by which markets move to equilibrium is so predictable that economists sometimes refer to markets as being governed by the law of supply and demand.
What is the relationship between start up costs and a competitive market?
markets with high start-up costs are less likely to be perfectly competitive.
Why do single firms in perfectly competitive markets face horizontal demand curves?
Gdbugufifudusks
Why is a Monopoly markets undesirable RELATIVE to perfect competitive market discuss?
In Monopoly, there is no market power as the monopoly firm is the only supplier and holds pricing power. However in a perfect competitive market, prices are set by interaction of supply and demand. This is why monopoly markets are undesirable relative to perfect competitive market.
What are the essential elements of the basic competitive model?
rational, self interested consumers rational, profit maximizing firms competitive markets with price taking behavior
Did KISS curse when they sung?
Yes and "KISS" meant Kings In Satans Service
