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.

Exploring Economics

8th Edition

ISBN:9781544336329

Author:Robert L. Sexton

Publisher:Robert L. Sexton

Chapter4: Demand, Supply, And Market Equilibrium

Section: Chapter Questions

Problem 12P

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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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