Tap every feature of perfect competition

Exercise and reference answers

Questions

1. Items

   1. Text

      Firms take price

      Matches the category

      Yes

   2. Text

      AR equals price

      Matches the category

      Yes

   3. Text

      MR equals price

      Matches the category

      Yes

   4. Text

      One seller only

      Matches the category

      No

   5. Text

      Firm sets its price

      Matches the category

      No

   Category

   True under perfect competition

Instructions

Tap only the items that belong to the category shown.

Explanation