Atlas Flour finds that the market price for a 5 pound bag of its flour remains $9.00 whether it sells 1 bag or 1000. This information suggests that Atlas Flour is operating in

Question

Quizplus · Accepted Answer

In a perfectly competitive market, there are many buyers and sellers, the product is homogeneous, and price is determined by market forces. The fact that the market price for Atlas Flour remains the same regardless of how much they sell indicates that they are operating in a perfectly competitive market.

Atlas Flour Finds That the Market Price for a 5