Characteristics that define perfectly competitive markets

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Reference no: EM132078811

Markets and competition

Identical products, as well as a large number of buyers and sellers, are characteristics of a (perfectly competitive or monopolistic) market. In such markets, sellers of goods(cannot or can) influence the prevailing market price, giving them the role of price (takers or makers) in the market.

True or False: The market for tomatoes does exhibit the two primary characteristics that define perfectly competitive markets.

Reference no: EM132078811

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