Which of the following characteristics is required for a perfectly competitive market? Group of answer choices The goods offered for sale are exactly the same. There are so many buyers and sellers that no single buyer or seller has any influence over the market price. It is difficult for new sellers to enter the market. Both a and b are correct.
Which of the following characteristics is required for a perfectly competitive market? Group of answer choices The goods offered for sale are exactly the same. There are so many buyers and sellers that no single buyer or seller has any influence over the market price. It is difficult for new sellers to enter the market. Both a and b are correct.
Chapter24: Perfect Competition
Section: Chapter Questions
Problem 7E
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Question 7
Which of the following characteristics is required for a perfectly competitive market?
Group of answer choices
The goods offered for sale are exactly the same.
There are so many buyers and sellers that no single buyer or seller has any influence over the market price.
It is difficult for new sellers to enter the market.
Both a and b are correct.
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