Perfect competition means that firms are
A) Price makers (firms set the price of the market)
B) Price takers (firms must accept the price of the market)
C) Powerful sellers
D) Unable to make normal profits
Correct Answer:
Verified
Q2: Which of the following is not an
Q3: The typical firm in perfect competition is
A)An
Q4: Q5: Which of the following is not an Q6: When firms are in perfect competition the Q7: For a market to be characterized by Q8: Q9: For a market to be characterized by Q10: The key difference(s)between perfect competition and monopolistic Q11: Unlock this Answer For Free Now! View this answer and more for free by performing one of the following actions Scan the QR code to install the App and get 2 free unlocks Unlock quizzes for free by uploading documents
