The number of sellers in a market is considered to be large when
A) the total exceeds 100
B) no single buyer can affect the price through his or her demand for the product
C) they cannot be easily counted
D) no single seller can affect the price by changing its level of output
E) no seller controls more than 20 percent of the total market supply
Correct Answer:
Verified
Q1: Firms are assumed to be price takers
Q3: All of the following are characteristics of
Q4: Firms in a perfectly competitive market cannot
Q5: Which of the following factors would be
Q6: In a perfectly competitive market,the good or
Q7: Which of the following helps to classify
Q8: The characteristics of a market that influence
Q9: Of the following products,which is most standardized?
A)pizza
B)concrete
C)automobiles
D)clothing
E)paintings
Q10: Which of the following is the closest
Q11: The distinguishing characteristics of different market structures
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