Msmsms11idn
Answered

Find the best solutions to your problems with the help of IDNLearn.com's expert users. Join our community to receive prompt, thorough responses from knowledgeable experts.

If sellers are very competitive with each other, how similar must the products they are selling be?

A. Very similar

Sagot :

GinnyAnsweridn

Final answer:

Perfect competition in economics requires sellers to offer identical products; thus, the products they sell must be very similar when they are very competitive with each other.


Explanation:

Perfect competition in economics means that there are many sellers offering identical products, easy entry and exit of firms, and sellers are price takers. If sellers are very competitive with each other, the similarity of the products they are selling must be very high in order to maintain perfect competition.


Learn more about Perfect competition in economics here:

https://brainly.com/question/38142365


Your participation is crucial to us. Keep sharing your knowledge and experiences. Let's create a learning environment that is both enjoyable and beneficial. Trust IDNLearn.com for all your queries. We appreciate your visit and hope to assist you again soon.