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pucebutterfly738Lv1

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Why does a perfectly competitive market require many participants as both buyers and sellers?

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28 Mar 2022

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Related textbook solutions

Principles of Economics

2nd Edition, 2017

ISBN: 9781947172364

Principles of Macroeconomics

ISBN: 9781947172388

Principles of Microeconomics

ISBN: 9781947172340

Related questions

Why does a perfectly competitive market require many participants as both buyers and sellers?

a. because the merchandise must be uniform.

b. so that no individual can control the price.

c. in order to maintain quality over the goods.

d. so that both buyers and sellers have the same information.

scarletspider222

Why does a perfectly competitive market require many buyers and sellers?

pucebutterfly738

In a perfectly competitive market, all producers sell _________ (perfectly identical/different) goods or services. Additionally, there are ______ (few / many) buyers and sellers. Because of these two characteristics, both buyers and sellers in perfectly competitive markets are price _____ (takers/makers).

orchidrabbit535

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