The condition of a market in which there are many sellers of slightly differentiated goods, sellers and buyers are reasonably aware of conditions that may affect the market, each seller has some control over his good's price, and sellers find it relatively easy to enter and exit the market.

Question

Business

Issac Johnston

9 October, 04:41

The condition of a market in which there are many sellers of slightly differentiated goods, sellers and buyers are reasonably aware of conditions that may affect the market, each seller has some control over his good's price, and sellers find it relatively easy to enter and exit the market.

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Answers (1)

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Montoya · Answer 1

Imperfect competition

Explanation:

Is a competitive market situation where there are many sellers, but they are selling heterogeneus good as opposed to the perfect competitive market scenario.