of the following, what is the best example of a perfectly competitive market? Select the best answer. A large city with a high number of automatic car washes A region with railway services provided by three large companies A village with one hair salon

of the following, what is the best example of a perfectly competitive market? Select the best answer. A large city with a high number of automatic car washes A region with railway services provided by three large companies A village with one hair salon

Economics:

10th Edition

ISBN:9781285859460

Author:BOYES, William

Publisher:BOYES, William

Chapter24: Perfect Competition

Section: Chapter Questions

Problem 7E

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Question

of the following, what is the best example of a perfectly competitive market? Select the best answer.

A large city with a high number of automatic car washes
A region with railway services provided by three large companies
A village with one hair salon

Definition Definition Structure of the market that exists when many buyers and sellers exchange similar commodities and prices are fixed by market forces, demand, and supply. When there is perfect competition, a single business cannot impact the price or market value of the homogenous product.

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