Suppose the Market for Cement Is Such That the Output

question 94

Multiple Choice

Suppose the market for cement is such that the output of all sellers is identical in composition and quality.While there are a large number of buyers and sellers,everyone conducts transactions at a common market price.Which of the following statements is true about the structure of the cement market?

• A) The cement market is perfectly competitive.
• B) The cement market is government regulated.
• C) All participants in the cement market are price-makers.
• D) All transactions in the cement market are likely to be involuntary.