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3 years ago

True or false: the market for tomatoes does exhibit the two primary characteristics that define perfectly competitive markets.

2 answers:

8 0

True - The tomato exhibits characteristics of a perfectly competitive market. Firstly, it is made up of many buyers and sellers. Secondly, all firms that partake in the trade do not control the market. Instead, they are price takers. As such, they sell tomatoes according to the prevailing market prices per unit of tomatoes. All firms also have a relatively small market share.

Alinara [238K]3 years ago

7 0

It is true!

Further Explanation:

The tomato exhibits characteristics of a perfectly competitive market:

It is comprised of numerous purchasers and merchants.

All organizations that share in the exchange don't control the market.

Rather, they are value takers. in that capacity, they sell tomatoes as indicated by the overarching business sector costs per unit of tomatoes. all organizations likewise have a moderately little piece of the pie.

perfectly competitive market:

In a perfectly competitive market, different organizations enter the market effectively without hindrances and sell indistinguishable items. They approach to perfect learning, and nobody firm can control the market.

perfectly competitive market mean:

A perfectly focused firm is a value taker, which implies that it must acknowledge the harmony cost at which it sells products. Immaculate challenge happens when there are numerous merchants, there is simple passage and leaving of firms, items are indistinguishable starting with one dealer then onto the next, and venders are value takers.

Case of a perfectly competitive market::

A perfectly competitive market mean is a theoretical outrageous; in any case, makers in various enterprises do confront numerous contender firms selling exceptionally comparative merchandise; thus, they should frequently go about as value takers. Business analysts regularly utilize farming markets for instance of impeccable challenge.

Subject: business

Level: college

Keywords: The tomato exhibits characteristics of a perfectly competitive market, perfectly competitive market, Case of a perfectly competitive market.

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