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Which of the following is a characteristic of a perfectly competitive market?
Firms are price setters
There are few sellers in the market.
Firms can exit and enter the market freely.
All of these
Pure or perfect competition is a theoretical market structure in which the following criteria are met: All firms sell an identical product (the product is a "commodity" or "homogeneous"). All firms are price takers (they cannot influence the market price of their product). Market share has no influence on prices.
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