Please select the characteristics which apply to firms in a Purely Competitive Market

Check All That Apply

• Many, small firmsMany, small firms
• A mixture of small and large firms mixture of small and large firms
• A standardized products standardized product
• A mixture of standardized and differentiated products.A mixture of standardized and differentiated products.
• The firms are "Price-Takers" The firms are "Price-Takers"
• The firms have some limited control over prices.The firms have some limited control over prices.
• There are extensive barriers to entryThere are extensive barriers to entry
• There are no barriers to entry. There are no barriers to entry.
• There is some non-price competition, particularly in advertising. There is some non-price competition, particularly in advertising.
• There is no non-price competition.There is no non-price competition.