Assume that consumer's income and the number of sellers in the market for good X both falls. Based on this information, we can conclude with certaintty that the equilibrium

Markets and competition in a perfectly competitive market, all producers sell identical goods or services. additionally, there are many buyers and sellers. because of these two characteristics, both buyers and sellers in perfectly competitive markets are pricetakers . true or false: the market for lettuce does exhibit the two primary characteristics that define perfectly competitive markets. true false