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wrote...
Posts: 138
2 months ago
When there are large numbers of buyers and sellers, then

• firms will move labor and capital in pursuit of profit-making opportunities to whatever business venture gives them the highest return on their investment.

• the products sold must look identical.

• consumers are able to find out about lower prices charged by other firms.

• no one buyer or seller has any influence on price.
Source  Download
Economics Today: The Micro View
Edition: 19th
Author:
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wrote...
2 months ago
no one buyer or seller has any influence on price.
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