Multiple Choice
A perfectly competitive market exists when which of the following conditions are present?
A) individual buyers or sellers can affect prices by their own actions
B) market prices reach well above their historical averages due to demand outstripping supply
C) market prices drop well below their historical averages due to supply outstripping demand
D) there is a homogeneous product with buying prices equal to selling prices
Correct Answer:
Verified
Correct Answer:
Verified
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