Consumers do not have a strong preference for the output of one seller over that of another in a perfectly competitive market because
A) there a large number of firms in the market.
B) the firms sell a standardized product.
C) there are no barriers to entry.
D) an individual firm has control over price.
Correct Answer:
Verified
Q2: A market where individual firms cannot affect
Q3: A market in which firms sell a
Q4: Who are the price takers in a
Q5: A perfectly competitive firm can
A) affect the
Q6: Firms in a perfectly competitive market
A) sell
Q7: Which of the following is NOT a
Q8: Which of the following is the best
Q9: A firm that can sell as much
Q10: Which of the following statements about a
Q11: In a market for a homogeneous good,
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