If a firm sells its output on a market that is characterized by many sellers and buyers, a homogeneous product, unlimited long-run resource…
CA Foundation · Business Economics · MTP · January 2025
If a firm sells its output on a market that is characterized by many sellers and buyers, a homogeneous product, unlimited long-run resource mobility, and perfect knowledge, then the firm is:
Suggested Answer and Working Notes:
Correct Answer: Option (C)
C. a perfect competitor.
Topics: Price Determination in Different Markets
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