Q29
A perfect market is one in which __________.
A.
One firm develops an advantage based on a factor of production that other firms cannot purchase
B.
One participant in the market has more resources than the others
C.
there are no competitive advantages or asymmetries because all firms have equal access to all the factors to production
AnswerD.
competition is at a minimum, as each niche market within an industry is served by the company with the greatest competitive advantage
Answer: Option C
Solution
Answer: Option C
Solution:
A perfect market is one in which there are no competitive advantages or asymmetries because all firms have equal access to all the factors to production.