Which of the following concepts was included in the textbook reading "The Economics Book : Companies are Price Takers Not Price Makers"? Select ALL that apply. A) "A good example of a perfectly competitive market is the athletic shoe industry, where products are slightly different." B) "In competitive industries, any firm that tries to charge more than the market price will not make any sales.

Which of the following concepts was included in the textbook reading "The Economics Book : Companies are Price Takers Not Price Makers"? Select ALL that apply. A) "A good example of a perfectly competitive market is the athletic shoe industry, where products are slightly different." B) "In competitive industries, any firm that tries to charge more than the market price will not make any sales.

Microeconomics: Private and Public Choice (MindTap Course List)

16th Edition

ISBN:9781305506893

Author:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson

Publisher:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson

Chapter9: Price Takers And The Competitive Process

Section: Chapter Questions

Problem 16CQ

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	A) "A good example of a perfectly competitive market is the athletic shoe industry, where products are slightly different."
	B) "In competitive industries, any firm that tries to charge more than the market price will not make any sales."
	c) "In competitive industries, small firms make identical products."
	D) "In a perfect market, there is perfect information."
	E) "Perfectly competitive markets are associated with socialist economies."