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11. Which of the following is not a property of a competitive market? (a) Many sellers with no influence on the market price. (b) Many buyers with no influence on the market price. (c) Sellers sell similar but different products. (d) All sellers sell identical products.

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Related questions

For a market to be competitive:
Ā 
A) each buyer and seller is small, relative to the world market; no single decision-maker has any influence over the market price.
B) sellers must produce goods and services that are different from their competitors.
C) sellers should have substantial pricing power.
D) all you need are many buyers and many sellers
E) the price must be a fair price

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).

Which of the following characteristics does not apply to perfectly competitive markets?
Ā 
a. Companies can enter and exit the market easily
b. Sellers in the market are price-takers
c. The number of buyers and sellers is small
d. Buyers and sellers have complete information about the identical products of all

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