Multiple Choice
Which of the following characteristics of competitive markets is necessary for firms to be price takers? (i)
There are many sellers.
(ii)
Firms can freely enter or exit the market.
(iii)
Goods offered for sale are largely the same.
A) (i) and (ii) only
B) (i) and (iii) only
C) (ii) only
D) (i) , (ii) , and (iii)
Correct Answer:
Verified
Correct Answer:
Verified
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