We Study the Simple Model of Competitive Markets Because It

question 85

Multiple Choice

We study the simple model of competitive markets because it helps to:

• A) provide useful insights to markets that are not perfectly competitive.
• B) show how the government controls the economy.
• C) indicate whether buyers or sellers matter more.
• D) show how poorly the economy actually functions.

Identify the factors that influence economic choices and behaviors.

Grasp the basic postulate of economics that incentives matter.

Understand the implications of economizing behavior and marginal changes.

Recognize the value of information in making economic decisions.

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