Multiple Choice
A market is competitive if (i) firms have the flexibility to price their own product.
(ii) each buyer is small compared to the market.
(iii) each seller is small compared to the market.
A) (i) and (ii) only
B) (i) and (iii) only
C) (ii) and (iii) only
D) All of the above are correct.
Correct Answer:
Verified
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