What determines the extent of competition in a market? How much the price decreases as more firms enter the market How costly it is for a new firm to enter the market The share of market sales each firm provides All of the above

What determines the extent of competition in a market? How much the price decreases as more firms enter the market How costly it is for a new firm to enter the market The share of market sales each firm provides All of the above

Economics:

10th Edition

ISBN:9781285859460

Author:BOYES, William

Publisher:BOYES, William

Chapter24: Perfect Competition

Section: Chapter Questions

Problem 7E

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What determines the extent of competition in a market?

How much the price decreases as more firms enter the market
How costly it is for a new firm to enter the market
The share of market sales each firm provides
All of the above

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