It is easiest for new firms to enter a

Name: It is easiest for new firms to enter a
Brand: Quizplus
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Question

Quizplus · Accepted Answer

In a perfectly competitive market, there are numerous small firms operating and no single firm dominates the market. There is free entry and exit, and firms are price takers. As a result, new firms can enter the market easily without facing any significant barriers to entry. Therefore, it is easiest for new firms to enter a perfectly competitive market.

It Is Easiest for New Firms to Enter a