Macroeconomics help with understanding concepts

Economics
Tutor: None Selected Time limit: 1 Day

Consider shopping for cucumbers in a farmers’ market. For each statement below, note which characteristic of competitive markets the statement describes.

a. All of the farmers have their prices posted prominently in front of their stalls.

Full information.
Standardized good.
Participants are price takers.
No transaction costs.
Sep 11th, 2015

Thank you for the opportunity to help you with your question!

anwer is full information as indicated.

full indormation is a market situation where there is knowledge about actions of  other market participants

Please let me know if you need any clarification. I'm always happy to answer your questions.
Sep 11th, 2015

Can you help me with this question and clarify to me why participation are price takers is the incorrect answer. thanks 

d. You and the other customers all seem indifferent about which cucumbers to buy.

Standardized good.
No transaction costs.
Participants are price takers.
Full information.

Sep 11th, 2015

Answer is standardized goods since all the cucumbers seem similar


Sep 11th, 2015

Price takers refers to consumers who have no effect on the market or firms whose whose actions have no effect on the market price

Sep 11th, 2015

Invite me to answer questions ask you ask them

Sep 11th, 2015

how about these its confusing but for B I answered No transaction cost and got it wrong and for C I answered Standardized good
b. Cucumbers are the same price at each stall.

Full information.
No transaction costs.
Standardized good.
Participants are price takers.


c. There is no difficulty moving around between stalls as you shop and choosing between farmers.

Standardized good.
Full information.
No transaction costs.
Participants are price takers.

Sep 11th, 2015

those are different questions please ask as new questions

Sep 11th, 2015

please mickey ru able to answer them here because i don't understand these question above and i don't want to get the wrong answer. Also I cant post another question it wont let me.. Thanks for your understanding

Sep 12th, 2015

try and post as a paid question. or just as the way you posted this one

Sep 12th, 2015

hi there mickey its asking me to pay and i dont have the money to pay this time only if possible you could help me.

Sep 12th, 2015

b. Participants are price takers.

c No transaction costs.


Sep 12th, 2015

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