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NISA [10]
3 years ago
9

Prices will remain high while productions costs will be lower in a perfectly competitive market.

Social Studies
1 answer:
blondinia [14]3 years ago
7 0
Perfectly competitive market is a market with perfect competition in which a<span>ll firms sell an identical product and all of  them are </span>price<span> takers - they cannot control the </span>market price<span> of their product. All firms have a relatively small </span>marketshare and buyers have complete information about the product.  Competition results in lower prices. So, the statement that <span>Prices will remain high while productions costs will be lower in a perfectly competitive market is false.</span>
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