The four important characteristics that define a perfectly competitive market are:
A) standardized good, full information, no transactions costs, participants are price takers.
B) standardized information, finished good, no transactions costs, participants are price makers.
C) standardized good, same information for buyer and seller, low transactions costs, participants are price takers.
D) standardized good, full information, no transactions costs, participants are price makers.
Correct Answer:
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A) physical
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