The following are attributes of only a competitive market:
price taker
identical products
The following is not an attribute of either markets: few sellers
The following is an attribute of both markets: price is equal to marginal cost
<h3>What is a
competitive market?</h3>
A competitive market is characterized by many buyers and sellers of identical goods and services. Market prices are set by the forces of demand and supply. So, buyers and sellers are price takers There are no barriers to entry or exit of firms into the industry.
<h3>What is a monopolistically competitive market?</h3>
A monopolistic competition is when there are many firms selling differentiated products in an industry. The demand curve is downward sloping. it sets the price for its goods and services.
To learn more about monopolistic competition, please check: brainly.com/question/21052250
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<em>*laughs in morse code*</em>
Poverty can lead to social injustice because the poor would be given little or no regard as compared to the rich.
<h3>What is social injustice?</h3>
Social injustice occurs when a less privilege individual or group is being treated unfairly by another, resulting in disadvantages to that individual or group, which can result in missed opportunities in terms of education, work, housing, health care, and more.
Poverty leads to social injustice because if a person is poor, they are not provided the things they need and they are not treated like how they should be. In other words, they are treated lowly compared to those who have higher social status in the society.
Hence, poverty can lead to social injustice because the poor would be given little or no regard as compared to the rich.
Learn more about social injustice here: brainly.com/question/1622815
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Sry can you help me what is 7 3/4% as a fraction in simplest form
