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In a perfectly competitive market, all producers sell goods or services. Additionally, there are buyers and sellers. Because of these two characteristics, both buyers and sellers in perfectly competitive markets are price . True or false: the market for digital cable does not exhibit the two primary characteristics that define perfectly competitive markets. a. True b. False

Jeffrey Rodriguez

in Business

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Chelsea Hayes on July 13, 2018

Answer: True, FalseExplanation: Perfectly competitive market is governed by the following features, a. Identical/homogeneous goodsb. Large number of buyers and sellersc. Free entry and exitd. Perfect informationTherefore, the above statement is true that in a perfectly competitive market, all producers sell identical goods or services. In addition, there are many buyers and sellers. Due to these two characteristics, both buyers and sellers in perfectly competitive markets are price-takers. The market of digital cable shows the two main characteristics that define the perfection of competitive markets. The cable companies digital market to sell the same product (such as channels that are offered), you must set the same price. Therefore, the statement is false.


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