Which of the following is characteristic of a perfectly competitive market?a. There is free entry into and exit from the market.b. Individual firms can exert a perceptible influence on the market price.c. The firms in the market produce differentiated products.O d. All of the above are true.

A market is determined as perfectly competitive, Monopoly, or any other form according to its…

Answered: Which of the following is…

Economics:

10th Edition

ISBN:9781285859460

Author:BOYES, William

Publisher:BOYES, William

Chapter24: Perfect Competition

Section: Chapter Questions

Problem 7E

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Which of the following is characteristic of a perfectly competitive market? a. There is free entry into and exit from the market. b. Individual firms can exert a perceptible influence on the market price. c. The firms in the market produce differentiated products. d. All of the above are true.