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In a perfectly competitive market, all producers sell goods or services. Additionally, there are buyers and sellers. Because of these two characteristics, both buyers and sellers in perfectly competitive markets are price . True or False: The market for lettuce exhibits the two primary characteristics that define perfectly competitive markets. a. Trueb. False

Respuesta :

Abotaiwo

Answer:

Identical, Many, Price takers, false

Explanation:

Identical

One of the assumptions of perfect competition is that firms in a perfect market sell homogeneous goods and services

Many

Another key assumption of a perfect competition is unlimited number of buyers and sellers such that no individual buyer or seller can influence the ruling market price.

Price Takers

The firm in in a perfect market can sell any quantity at the ruling market price, it cannot determine the price, the firm is a price taker.

False

The market for lettuce goes not exhibit the two primary characteristics that define perfectly competitive markets.