If one firm sets the market price
A) the market is perfectly competitive
B) the market is not perfectly competitive
C) there are a large number of buyers who can buy from a wide range of competitors
D) there is free entry into the market
E) its product must be a standardized commodity,produced by many competitors
Correct Answer:
Verified
Q22: Perfect competition is characterized by a(n)
A)large number
Q23: Which of the following is true about
Q24: A perfectly competitive firm
A)can increase total revenue
Q25: Java Joe sells 200 cups of coffee
Q26: Which of the following products is most
Q28: Which of the following would prevent a
Q29: Under perfect competition,
A)a single seller sets the
Q30: Under conditions of perfect competition,if any one
Q31: In perfect competition,
A)there are typically two or
Q32: The model of perfect competition is most
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