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11 Dec 2019
A perfectly competitive market is a market that meets the conditions of:
(i) many buyers and sellers, all firms selling differentiated products, and no barriers to new firms entering the market.
(ii) few buyers and sellers, all firms selling identical products, and no barriers to new firms entering the market.
(iii) many buyers and sellers, all firms selling identical products, and significant barriers to new firms entering the market.
(iv) many buyers and sellers, all firms selling identical products, and no barriers to new firms entering the market.
A perfectly competitive market is a market that meets the conditions of:
(i) many buyers and sellers, all firms selling differentiated products, and no barriers to new firms entering the market.
(ii) few buyers and sellers, all firms selling identical products, and no barriers to new firms entering the market.
(iii) many buyers and sellers, all firms selling identical products, and significant barriers to new firms entering the market.
(iv) many buyers and sellers, all firms selling identical products, and no barriers to new firms entering the market.
Read by 1 person
Sixta KovacekLv2
2 Mar 2020
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