Choose a description that is the least appropriate description of a perfectly competitive market. (1) Economies of scale prevails for some range of quantities of output. (2) All the relevant information about the market is known very well by market participants. (3) Differentiated products are sold by sellers. (4) The sales volume of one seller is very small relative to the size of the market.

Choose a description that is the least appropriate description of a perfectly competitive market. (1) Economies of scale prevails for some range of quantities of output. (2) All the relevant information about the market is known very well by market participants. (3) Differentiated products are sold by sellers. (4) The sales volume of one seller is very small relative to the size of the market.

Economics Today and Tomorrow, Student Edition

1st Edition

ISBN:9780078747663

Author:McGraw-Hill

Publisher:McGraw-Hill

Chapter11: Marketing And Distribution

Section: Chapter Questions

Problem 8AA

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