ABEKA ECONOMICS Appendix Quiz G
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under perfect competition, should there be a large number of independent sellers or buyers or both?
both
t/f: in a perfectly competitive market, each firm is known as a price maker
false
t/f: in an unrestricted market, price and quality are determined by few bargains among sellers and buyers
false
how many market model types are there?
four
group of firms that produce similar products, such as cars
industry
