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What are the main characteristics of a perfectly competitive

Assignment Help Macroeconomics
Reference no: EM132879033 , Length: word count: 250

Question 1: What are the main characteristics of a perfectly competitive market that causes buyers and sellers to be price takers? Explain your answer.

Question 2: "The perfectly competitive model is not very useful for managers because very few markets in the U.S. economy are perfectly competitive." Do you agree with this statement? Explain.

Question 3: Regardless of whether you agree, 18 what lessons can managers learn by studying perfectly competitive markets?

  • 250 words

Reference no: EM132879033

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