If a Resource Is Purchased and Sold in a Perfectly

question 107

Multiple Choice

If a resource is purchased and sold in a perfectly competitive market:

• A)there are a large number of resource suppliers and the resources are identical.
• B)there is a single buyer of resource and the resources are identical.
• C)there is a single buyer of resource and the resources are differentiated.
• D)there is a large number of resource suppliers and the resources are differentiated.
• E)there are a large number of resource suppliers and there is no entry or exit.

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