What are the seven characteristics of perfectly competitive markets? | % Correct |
---|---|
Perfect knowledge | 86%
|
No barriers to entry or exit | 54%
|
Homogenous products | 50%
|
Large number of buyers and sellers | 29%
|
Uniform price | 7%
|
Absence of transport costs | 4%
|
Perfect mobility of factors of production | 4%
|
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