The assumptions of perfect competition imply that:
A) individuals in the market accept the market price as given.
B) individuals can influence the market price.
C) the price will be fair.
D) the price will be high.
Correct Answer:
Verified
Q1: Which statement describes a necessary condition for
Q3: Which statement is NOT a characteristic of
Q4: If a California avocado stand operates in
Q5: Individuals in a market who must take
Q6: Which statement is NOT characteristic of perfect
Q7: A perfectly competitive firm is a:
A)price taker.
B)price
Q8: The market for breakfast cereal contains hundreds
Q9: One characteristic of a perfectly competitive market
Q10: When a firm cannot affect the market
Q11: The perfectly competitive model does NOT assume:
A)a
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