Which of the following are characteristics of a perfectly competitive industry?

Question

Which of the following are characteristics of a perfectly competitive industry? check all that apply. a. neither individual consumers nor individual producers can affect the market price of the good. b. buyers cannot affect the price at which they can buy the good whereas sellers can influence the price at which they sell the good. c. Producers of similar goods form an agreement to raise prices by producing less. d. there are many producer, none of whom have a large market share. e. the industry output is a standardized product.

Explanation / Answer

a c and d

Related Questions

Navigate

• Browse (All)
• Browse W
• Subjects

---

---

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.