Issues in Economics Today 7th Edition by Robert Guell

Exercise 7

Owing to its usefulness and relative simplicity, the supply and demand model is often used
A) because nearly every major industry in the United States is governed by perfect competition.
B) because nearly every major industry in the United States is governed by monopoly.
C) even though, strictly speaking, few industries in the United States are governed by perfect competition.
D) even though it has no connection to economic reality.