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Which of the following is likely to be present in a perfectly competitive market? a. ​High capital costs b. ​Nonprice competition such as advertising c. ​Firms producing identical products d. ​Government licenses e. ​Patents

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Answer:

c. ​Firms producing identical products

Step-by-step explanation:

  • A perfect comparative market is characterized by the many buyers and sellers and undifferentiated products and no transaction costs and is also called as the atomistic market.
  • It is defined by as the annealing condition and can be theoretically shown by the market that will reach an equilibrium in which the quantity supplied for everyday services.
  • A large number of buyers and sellers, No barriers to entry or exit and an Anti-competitive regulation.
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