Multiple Choice
The absence of which of the following conditions could lead to the collapse of a competitive market?
A) Many buyers of the same good.
B) Many sellers of the same good.
C) The inability of either suppliers or demanders to influence the price of the good.
D) Free entry of new firms attracted by high profits into the market.
E) The absence of any of the above could lead to imperfect competition in a competitive market.
Correct Answer:
Verified
Correct Answer:
Verified
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