Asap In a market with perfect competition,Prices are set by businesses.Businesses confronting an inelastic demand curve.3. Obstacles to admission.4. Businesses sell the same goods.

Theoretically, perfect competition creates a monopoly that enables a business to set any price…

Answered: In a market with perfect competition,…

In a market with perfect competition, 1. Prices are set by businesses. 2. Businesses confronting an inelastic demand curve 3. Obstacles to admission. 4. Businesses sell the same goods.

ECON MICRO

5th Edition

ISBN:9781337000536

Author:William A. McEachern

Publisher:William A. McEachern

Chapter8: Perfect Competition

Section: Chapter Questions

Problem 1.3P

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In a market with perfect competition,
Prices are set by businesses.
Businesses confronting an inelastic demand curve.
3. Obstacles to admission.
4. Businesses sell the same goods.

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