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Basile [38]
3 years ago
13

A perfectly competitive market is one in which:Multiple Choicea. fully informed, price-taking buyers and sellers easily trade a

standardized good or service.b. fully informed, price-making buyers and seller easily trade a standardized good or service.c. uninformed, price-taking buyers and sellers easily trade a standardized good or service.d. uninformed, price-making buyers and seller easily trade a standardized good or service.
Business
1 answer:
Zielflug [23.3K]3 years ago
3 0

Answer:

A.

Explanation:

Characteristics of a Perfectly Competitive Market:

-Very Large Number of Sellers and Buyers.

<em>Each firm produces an extremely small percent of total market supply.</em>

-Identical (Homogeneous) Product.

<em>The product sold by one firm is identical to that sold by another firm.</em>

-Easy Entry/Easy Exit.

<em>Easy to enter this industry because costs are low. Also easy to quit this industry because of the low costs. </em>

-Perfect Information.

<em>Buyers and Sellers Have Perfect Information. All the buyers and sellers know all of the relevant information.</em>

<em>-</em>The Competitive Firm Is A Price Taker.

<em>The firm must take the market price as given.</em>

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$ 1844

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4 years ago
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Thank you for posting your question here at brainly. I hope the answer will help you. Feel free to ask more questions.
Among the choices the one that has 
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