Choose a description that is the least appropriate description of a perfectly competitive market. (1) Economies of scale
Posted: Sun Jun 05, 2022 11:38 am
Choose a description that is the least appropriate description
of a perfectly competitive market.
(1) Economies of scale prevails for some range of quantities of
output. (2) All the relevant information about the market is known
very well by market participants. (3) Differentiated products are
sold by sellers. (4) The sales volume of one seller is very small
relative to the size of the market.
of a perfectly competitive market.
(1) Economies of scale prevails for some range of quantities of
output. (2) All the relevant information about the market is known
very well by market participants. (3) Differentiated products are
sold by sellers. (4) The sales volume of one seller is very small
relative to the size of the market.