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1 Feb 2018
30. Many car owners and car dealers describe their cars for sale in the local newspapers and list their asking price. Many people shopping for a used car consider the different choices listed in the paper. The absence of which condition prohibits this market from being described as perfectly competitive? a. Buyers and sellers know the prices. b. Firms can freely enter and cxit. C. Consumers believe all firms sell identical products. d. There are many people selling their cars and many consumers shopping for cars.
30. Many car owners and car dealers describe their cars for sale in the local newspapers and list their asking price. Many people shopping for a used car consider the different choices listed in the paper. The absence of which condition prohibits this market from being described as perfectly competitive? a. Buyers and sellers know the prices. b. Firms can freely enter and cxit. C. Consumers believe all firms sell identical products. d. There are many people selling their cars and many consumers shopping for cars.
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