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knoeller33 knoeller33
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A year ago
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.
Textbook 
Macroeconomics

Macroeconomics


Edition: 3rd
Authors:
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birdnuggetbirdnugget
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A year ago
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