Business, 30.03.2020 19:35 maryjane8872

The model of competitive markets relies on these three core assumptions:1.There must be many buyers and sellers—a few players can't dominate the market.2.Firms must produce an identical product—buyers must regard all sellers' products as equivalent.3.Firms and resources must be fully mobile, allowing free entry into and exit from the industry.

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The model of competitive markets relies on these three core assumptions:1.There must be many buyers...

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