The model of perfect competition best applies to markets with:

a. a few firms selling identical products.
b. a few firms selling differentiated products.
c. many firms selling differentiated products.
d. many firms selling identical products.
e. significant barriers to entry and exit.

d

Economics

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Nominal GDP can change

A) only if prices change. B) only if the quantities of goods and services change. C) only if prices increase. D) if either prices or the quantities of goods and services change. E) only if prices and the quantities of the goods and services change.

Economics

What happens to the saving curve when the consumption curve shifts? What happens to the saving and consumption curves when taxes are changed? Explain

Economics