Question

Two different markets each have many buyers and many sellers, none of which have market power. Which of these would be MOST helpful in determining whether each market is monopolistically competitive or perfectly competitive?

information on the barriers to entry in each market information on the size of each industry information on the level of information available to buyers and sellers information on the degree of product differentiation in each market Which statement does NOT describe a concern about globalization, trade, and the environment? Companies will take advantage of lax environmental laws abroad. There will be pressure to adopt higher environmental standards in rich nations because of trade and foreign direct investment. Expanded trade and globalization will lead to increased environmental degradation. Attempts by governments to strengthen environmental laws will be challenged by trading partners as disguised protectionism.

Answer 1

1. Information on the degree of product differentiation in each market

Explanation: In a perfectly competitive market, all firms sell a standard and undifferentiated product. In a monopolistic market, each firm sells a differentiated product.

2. There will be pressure to adopt higher environmental standards in rich nations because of trade and foreign direct investment

Explanation: The remaining options are some important concerns regarding globalization.