Market Structure Is Determined by the

question 223

Multiple Choice

Market structure is determined by the

• A)volume of discounts,the quantity of foreign exchange,and the effects of Federal Reserve policy
• B)influence of government policy,the number of qualified buyers,and the effect of generally accepted accounting principles
• C)number of buyers and sellers,whether the product is standardized,whether there is free entry and exit,and how well informed the buyers and sellers are about the market
• D)volume of discounts,the effect of generally accepted accounting principles,and Federal Reserve policy
• E)influence of government policy,the quantity of foreign exchange,and the effects of Federal Reserve policy

---

Definitions:

Marginal Product

Additional output gained by employing one more unit of production.

Second Worker

The term "second worker" can refer to an additional employee hired to perform tasks, often implying the expansion of workforce due to increased workload.

Law of Diminishing Marginal Returns

A principle stating that adding an additional factor of production results in smaller increases in output after a certain point, holding other inputs constant.

Variable Input

An input used in production that can be adjusted in the short term, such as labor or raw materials.