A perfect market is one in which:
A) there are no competitive advantages or asymmetries because all firms have equal access to all the factors to production.
B) one firm develops an advantage based on a factor of production that other firms cannot purchase.
C) one participant in the market has more resources than the others.
D) competition is at a minimum, as each niche market within an industry is served by the company with the greatest competitive advantage.
A
Business
You might also like to view...
Which of the following types of ownership allows co-owners to have unequal shares?
A) joint tenancy B) tenancy in common C) periodic tenancy D) tenancy at will
Business
Queue discipline refers to the willingness of customers to wait in line for service
Indicate whether this statement is true or false.
Business