Economics 1) How many buyers are there in a perfectly competitive market? A) Few B) Two C) Many D) One 2) A market in which there are many buyers and sellers, every firm sells the same standardized product, buyers and sellers have full information about the product and its price, and it is easy for firms to enter and exit the market is known as _____ market. A) monopoly B) oligopoly C) duopoly D) a perfectly competitive 3) Which of the following is NOT a reason that firms in a perfectly competitive market are price takers? A) There are many firms that a buyer can choose from. B) Each firm can sell more of its goods at a lower price than at the market price. C) Each buyer has perfect information about all alternatives. D) Each firm's good is a perfect substitute for another firm's good.
Economics
1) How many buyers are there in a
A) Few
B) Two
C) Many
D) One
2) A market in which there are many buyers and sellers, every firm sells the same standardized product, buyers and sellers have full information about the product and its
A)
B) oligopoly
C) duopoly
D) a perfectly competitive
3) Which of the following is NOT a reason that firms in a perfectly competitive market are price takers?
A) There are many firms that a buyer can choose from.
B) Each firm can sell more of its goods at a lower price than at the market price.
C) Each buyer has perfect information about all alternatives.
D) Each firm's good is a perfect substitute for another firm's good.
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