With proper explanation The presence of public goods is an important reason for ___ A. the existence of free markets. B. the existence of monopolistic markets. C. the existence of perfectly competitive markets. D. government intervention in markets. E. None of these.

With proper explanation The presence of public goods is an important reason for ___ A. the existence of free markets. B. the existence of monopolistic markets. C. the existence of perfectly competitive markets. D. government intervention in markets. E. None of these.

Essentials of Economics (MindTap Course List)

8th Edition

ISBN:9781337091992

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter7: Consumers, Producers, And The Efficiency Of Markets

Section: Chapter Questions

Problem 5QR

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Definition Definition Structure of the market that exists when many buyers and sellers exchange similar commodities and prices are fixed by market forces, demand, and supply. When there is perfect competition, a single business cannot impact the price or market value of the homogenous product.

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