In a market for a homogeneous good, if sellers and buyers can enter or exit a market freely, the market is most likely

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In a market for a homogeneous good, if sellers and buyers can enter or exit a market freely, the market is considered to be perfectly competitive. In a perfectly competitive market, there are many sellers and buyers, and they are all price takers, meaning they have no market power and must accept the market price. Additionally, there are no barriers to entry or exit, so firms can freely enter or exit the market without facing any obstacles.

In a Market for a Homogeneous Good, If Sellers and Buyers