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Suppose the market for cement is such that the output of all sellers is identical in composition and ...

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Suppose the market for cement is such that the output of all sellers is identical in composition and ...

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?

▸ The cement market is perfectly competitive.

▸ All transactions in the cement market are likely to be involuntary.

▸ The cement market is government regulated.

▸ All participants in the cement market are price-makers.

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Macroeconomics

Edition: 3^rd

Authors: Acemoglu, Laibson, List

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