Which of the following is not an example of a market? Answer A small town that h
ID: 1235844 • Letter: W
Question
Which of the following is not an example of a market?Answer
A small town that has only one seller of electricity.
In the United States, a sick person cannot legally purchase a kidney.
In Florida there are many buyers and sellers of key lime pie.
The availability of Internet shopping has expanded the clothing choices for buyers who do not live near large cities.
1 points
Question 6
If a seller in a competitive market chooses to charge more than the going price, then:
Answer
The seller's profits must increase.
The owners of the raw materials used in production would raise the prices for the raw materials.
Other sellers would also raise their prices.
Buyers will make purchases from other sellers.
Explanation / Answer
If a seller in a competitive market chooses to charge more than the going price, then: d. buyers will tend to make purchases from other sellers.
Related Questions
Hire Me For All Your Tutoring Needs
Integrity-first tutoring: clear explanations, guidance, and feedback.
Drop an Email at
drjack9650@gmail.com
drjack9650@gmail.com
Navigate
Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.