Which of the following is always true in competitive price-taker markets?

A) There are more sellers than buyers.
B) Barriers to entry into the market are low.
C) The products of firms in the industry are differentiated.
D) The firms never earn economic profit.

Barriers To Entry

Obstacles that make it difficult for new competitors to enter a market, including high start-up costs, regulatory requirements, and established brand loyalty.

Economic Profit

The difference between a firm's total revenues and its total costs, including both explicit and implicit costs, representing an excess return over and above normal profits.