Consider shopping for cucumbers in a farmers' market. For each statement below, note which characteristic of competitive markets the statement describes.

a.All farmers have the prices of their products posted prominently in front of their stalls.

• Standardized good
• Full information
• Participants are price takers
• No transaction costs

b. Cucumbers are sold at the same price at each stall.

• Standardized good
• Full information
• Participants are price takers
• No transaction costs

c. There is no difficulty in moving around between stalls as you shop and choose between farmers.

• Standardized good
• Full information
• Participants are price takers
• No transaction costs

d. You and the other customers all seem indifferent about which cucumbers to buy.

• Standardized good
• Full information
• Participants are price takers
• No transaction costs