Which is true under conditions of pure competition?

Question

Quizplus · Accepted Answer

Under conditions of pure competition, no single firm can influence the market price by changing its output. This is because there are many small firms producing a homogeneous product and no firm has enough market power to affect the price. Choices A, B, and D are not true under conditions of pure competition. There are no differentiated products, the market demand curve is perfectly elastic, and firms that cannot make pure or economic profits can still survive in the long run as long as they cover their variable costs.

Which Is True Under Conditions of Pure Competition