Answer on Macroeconomics Question for prashant
price of goods and services.
The necessary conditions for competitive market to exist are: large number of buyer and sellers (so that nobody could influence the
price), firms are able to enter and exit the market easily, the market have
complete information and products are not differentiated.
Need a fast expert's response?Submit order
and get a quick answer at the best price
for any assignment or question with DETAILED EXPLANATIONS!