🏷️ LIMITED TIME OFFER: GET 20% OFF GRADE+ YEARLY SUBSCRIPTION →
Log in
Economics
1
answer
0
watching
81
views

The characteristics that describe a perfectly competitive industry include
 
A) many firms selling a slightly differentiated product
B) a few firms selling to many buyers
C) many firms selling an identical product
D) one firm selling to many buyers
E) None of the above answers is correct

Watch
1
answer
0
watching
81
views

For unlimited access to Homework Help, a Homework+ subscription is required.

manhokwe tawanda
manhokwe tawandaLv10
20 Jan 2021

Unlock all answers

Get 1 free homework help answer.
Already have an account? Log in
Share

Related textbook solutions

Principles of Economics
2nd Edition, 2017
Openstax
ISBN: 9781947172364
Principles of Macroeconomics
2 Edition,
Openstax
ISBN: 9781947172388
Principles of Microeconomics
2 Edition,
Openstax
ISBN: 9781947172340

Related questions

Monopolistic competition is characterized by:

a. a large number of firms selling differentiated products.

b. a perfectly elastic demand curve.

c. high barriers to entry.

d. a large number of firms selling identical products

e. a small number of firms selling differentiated products.

Monopolistic competition is characterized by:

a. ​a large number of firms selling differentiated products.

b. a perfectly elastic demand curve.

c. ​high barriers to entry.

d. a large number of firms selling identical products.

e. ​a small number of firms selling differentiated products.

 

Describe an industry that would meet the conditions of a perfectly competitive industry which are

a) There are many buyers and sellers so neither side of the market has market power;

b) The product provided to the market is identical across suppliers; and

c) There are no barriers to entry.

How do individual firms in a perfectly competitive industry respond to an increase in the market demand for the product? Would advertising by individual firms in this type of market provide any benefits?

Weekly leaderboard

Home
Homework Help 3,900,000
Economics 400,000
Start filling in the gaps now
Log in