In a(n) ________, individual firms are small and the number of such firms is large.
A) mixed market
B) oligopoly
C) perfect competition
D) monopoly
E) monopolistic competition

Question

Quizplus · Accepted Answer

In perfect competition, there are numerous small firms that operate in the market with a large number of buyers and sellers. No single firm can influence the market price, and all firms sell identical products. This results in a highly competitive market where firms have limited power to set prices or make decisions that affect the market as a whole.

In A(n) ________, Individual Firms Are Small and the Number