The following are attributes of only a competitive market:
price taker
identical products
The following is not an attribute of either markets: few sellers
The following is an attribute of both markets: price is equal to marginal cost
<h3>What is a
competitive market?</h3>
A competitive market is characterized by many buyers and sellers of identical goods and services. Market prices are set by the forces of demand and supply. So, buyers and sellers are price takers There are no barriers to entry or exit of firms into the industry.
<h3>What is a monopolistically competitive market?</h3>
A monopolistic competition is when there are many firms selling differentiated products in an industry. The demand curve is downward sloping. it sets the price for its goods and services.
To learn more about monopolistic competition, please check: brainly.com/question/21052250
Answer:
10-3×(6×-2)
Explanation:
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Answer:
The correct answer to the following question will be "3".
Explanation:
The given values are:
Percentage demand,
= 6% i.e., .06
Percentage change in the price,
= 2% i.e., .02
Now,
Own-price elasticity of demand will be:
= 
On substituting the estimated values, we get
= 
= 
Answer:
Dylan paid a plumber $120 for 4 hours of labor. How much does the plumber charge per hour of labor?
$15 per hour
$30 per hour
$116 per hour
$480 per hour
Explanation:
The concepts of figure-ground relationship, law of continuity, and principle of closure is Gestalt principles.
<h3>What is Gestalt principles?</h3>
Gestalt principles is a school of thought in psychology that involves figure-ground relationship, grouping by proximity or similarity, law of continuity, and closure are all used to help explain how we organize sensory information.
Thus, the concepts of figure-ground relationship, law of continuity, and principle of closure is Gestalt principles.
Learn more about Gestalt principles here: brainly.com/question/24915896
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