perfect competition Flashcards by David Kaplunov

Q

number of firms in industry

A

many

How well did you know this?

1

Not at all

2

3

4

5

Perfectly

Q

product

A

identical

How well did you know this?

1

Not at all

2

3

4

5

Perfectly

Q

barriers to entry

A

none

How well did you know this?

1

Not at all

2

3

4

5

Perfectly

Q

firm’s control over price

A

none

How well did you know this?

1

Not at all

2

3

4

5

Perfectly

Q

concentration ratio

A

0

How well did you know this?

1

Not at all

2

3

4

5

Perfectly

Q

HHI

A

close to 0

How well did you know this?

1

Not at all

2

3

4

5

Perfectly

Q

examples

A

wheat and honey

How well did you know this?

1

Not at all

2

3

4

5

Perfectly