In the market for empanadas, there are enough sellers that no individual firm can charge more than the market price of $2.95 per empanadas. What feature of perfect competition is this describing?
A) perfect information
B) standardized product
C) easy entry and exit
D) many buyers and sellers
Correct Answer:
Verified
Q6: Which of the following is NOT a
Q7: In the market for shalanamags, there are
Q8: What is a key difference between a
Q9: What is true about firms in a
Q10: In a perfectly competitive market:
A) there are
Q12: The market for babysitting services in a
Q13: In the market for empanadas, there are
Q14: The market for fast food has thousands
Q15: Sally is selling homemade tamales in a
Q16: Why does standardization of products contribute to
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