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Brief Principles of Macroeconomics...

8th Edition
N. Gregory Mankiw
ISBN: 9781337091985

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BuyFindarrow_forward

Brief Principles of Macroeconomics...

8th Edition
N. Gregory Mankiw
ISBN: 9781337091985
Textbook Problem

What is a market? • What are the characteristics of a perfectly competitive market?

To determine

Market and perfect competitive market.

Explanation

A market is a group of buyers and sellers of a particular good or service, wherein the buyers determine the demand and sellers determines the supply of a particular good or service.

A perfectly competitive market has two characteristics ...

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