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2 weeks ago
All of the following are characteristics of a perfectly competitive industry EXCEPT

• firms in the industry are price takers.

• buyers and sellers have equal access to information.

• there are a large number of buyers and sellers with only a few being able to influence the market price.

• the product sold is homogeneous.
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Economics Today: The Micro View
Edition: 19th
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wrote...
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2 weeks ago
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there are a large number of buyers and sellers with only a few being able to influence the market price.
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2 weeks ago
Exactly what I needed for my project, TYSM
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