Which of following is a key assumption of a perfectly competitive market? Commodities have few sellers Each seller has a very small share of the market. O none of these. Firms can influence market price It is difficult for new sellers to enter the market.

Which of following is a key assumption of a perfectly competitive market? Commodities have few sellers Each seller has a very small share of the market. O none of these. Firms can influence market price It is difficult for new sellers to enter the market.

Managerial Economics: A Problem Solving Approach

5th Edition

ISBN:9781337106665

Author:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor

Publisher:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor

Chapter9: Market Structure And Long-run Equilibrium

Section: Chapter Questions

Problem 6MC

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Question

Which of following is a key assumption of a perfectly competitive market?
Commodities have few sellers
Each seller has a very small share of the market.
none of these.
Firms can influence market price
O It is difficult for new sellers to enter the market.

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