Which of the following is most likely to operate under a perfectly competitive market?1)2)3)4)A neighborhood dry cleanerAn airline companyA supermarket chain storeAn automobile manufacturer

Perfect competition is a market condition there is a large number of buyers and sellers selling an…

Answered: Which of the following is most likely…

Which of the following is most likely to operate under a perfectly competitive market? 1) A neighborhood dry cleaner 2) An airline company 3) A supermarket chain store 4) An automobile manufacturer

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter8: Perfect Competition

Section: Chapter Questions

Problem 27RQ: What price will a perfectly competitive firm end up charging up the long run? Why?

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Question

Which of the following is most likely to operate under a perfectly competitive market?
1)
2)
3)
4)
A neighborhood dry cleaner
An airline company
A supermarket chain store
An automobile manufacturer

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