Which of the following is false?
A) Economists believe that they can understand most markets by applying the model of demand and supply.
B) When economists apply the model of demand and supply, they are using the model of perfect competition.
C) Many changes in the past 20 years have made markets more competitive by increasing ease of entry.
D) Price-taking firms produce differentiated goods.

Question

Quizplus · Accepted Answer

The Answer of Which of the following is false?
A) Economists believe that they can understand most markets by applying the model of demand and supply.
B) When economists apply the model of demand and supply, they are using the model of perfect competition.
C) Many changes in the past 20 years have made markets more competitive by increasing ease of entry.
D) Price-taking firms produce differentiated goods.

Which of the Following Is False