Multiple Choice
The market for breakfast cereal contains hundreds of similar products, such as Fruit Loops, Corn Flakes, and Rice Krispies, that are considered to be different products by different buyers. This situation violates the perfect competition assumption of:
A) many buyers and sellers.
B) identical goods.
C) complete information.
D) ease of entry and exit.
Correct Answer:
Verified
Correct Answer:
Verified
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