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24 Feb 2019
1. Markets and competition In a perfectly competitive market, all producers sell (perfectly identical/different) goods or services. Additionally, there are (few,many) buyers and sellers. Because of these two characteristics, both buyers and sellers in perfectly competitive markets are price (takers,makers)
True or False: The market for lettuce does not exhibit the two primary characteristics that define perfectly competitive markets.
1. Markets and competition In a perfectly competitive market, all producers sell (perfectly identical/different) goods or services. Additionally, there are (few,many) buyers and sellers. Because of these two characteristics, both buyers and sellers in perfectly competitive markets are price (takers,makers)
True or False: The market for lettuce does not exhibit the two primary characteristics that define perfectly competitive markets.
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