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The market for which product best fits the definitionof a perfectly competitive market?a. eggsb. tap waterc. moviesd. computer operating systems

Microeconomics

13th Edition

ISBN:9781337617406

Author:Roger A. Arnold

Publisher:Roger A. Arnold

Chapter9: Perfect Competition

Section9.4: Topics For Analysis In The Theory Of Perfect Competition

Problem 2ST

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Question

The market for which product best fits the definition
of a perfectly competitive market?
a. eggs
b. tap water
c. movies
d. computer operating systems

Definition Definition Structure of the market that exists when many buyers and sellers exchange similar commodities and prices are fixed by market forces, demand, and supply. When there is perfect competition, a single business cannot impact the price or market value of the homogenous product.

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