Competitive Markets Exist When

Multiple Choice

Competitive markets exist when

A) there are so many buyers and sellers that each has only a small impact on the market price and the market output.
B) there are more buyers than sellers,giving the buyers market power.
C) there are more sellers than buyers,giving the sellers market power.
D) accounting profits become zero because of price wars.
E) prices are so low that everyone who wants the good or service gets the good or service.