Perfectly competitive firmsA) sell identical products.B) are price makers.C) are large relative to the size of the market.D) All of the above are correct.

Question

Perfectly competitive firmsA)  sell identical products.B)  are price makers.C)  are large relative to the size of the market.D)  All of the above are correct.

Peace Welly · Accepted Answer

Final Answer : A, Explanation :  Perfectly competitive firms sell identical (or homogeneous) products, which is a key characteristic of perfect competition. This means that the products offered by different firms are considered perfect substitutes for each other.

Perfectly competitive firms

A) sell identical products.
B) are price makers.
C) are large relative to the size of the market.
D) All of the above are correct.

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Learning Objectives

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