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Pie
2 years ago
15

What is perfect competition? Select one: a. A market structure in which a large number of firms produce related products. b. A m

arket structure in which a large number of firms all produce the same product. c. A market structure in which a limited number of firms all produce the same product. d. A market structure in which a limited number of firms all produce related products.
History
1 answer:
ryzh [129]2 years ago
4 0

A market structure in which a limited number of firms all produce related products is perfect competition.

Option D. A market structure in which a limited number of firms all produce related products.

The concept of perfect competition represents a theoretical market structure. In a perfect competition model, there are no monopolies. This type of structure has several important characteristics, including:

Perfect competition is a market structure in which many firms all produce the same product. product. Oil, notebooks, milk, etc. are the same no matter who makes them.

Perfect competition describes a market structure with the maximum possible competition. For clarity, a market that has the following characteristics in its structure is said to be a perfectly competitive market:

Learn more about the perfect competition at

brainly.com/question/4190313

#SPJ1

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