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which of the following statements is correct? in contrast to competitive goods markets, in the labour market, sellers have market power. the market clears in both competitive goods and labour markets. the market equilibrium is efficient (no deadweight loss) in both the competitive goods market and the labour market. unlike in the competitive goods market, the exercise of power affects outcomes in the labour market.

Respuesta :

Unlike in the competitive goods market, the exercise of power affects outcomes in the labor market. This statements is correct.

In economics, the term "competitive market" describes a marketplace where there are many customers and sellers and where no one buyer or seller has a significant impact on the market. Unrestricted access, a large number of customers and sellers, and uniform products are characteristics of competitive marketplaces.

The cornerstone of a robust American economy is healthy market competition. The fundamentals of economics show that when businesses compete for customers, consumers benefit from cheaper pricing, better products and services, more variety, and more innovation.

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