In a perfectly competitive market, all producers sell goods or services. additionally, there are buyers and sellers. because of these two characteristics, both buyers and sellers in perfectly competitive markets are price. true or false: the market for public utilities, like gas and electricity, does not exhibit the two primary characteristics that define perfectly competitive markets.

Question

Business

Larissa

22 August, 16:37

In a perfectly competitive market, all producers sell goods or services. additionally, there are buyers and sellers. because of these two characteristics, both buyers and sellers in perfectly competitive markets are price. true or false: the market for public utilities, like gas and electricity, does not exhibit the two primary characteristics that define perfectly competitive markets.

+3

Answers (1)

Know the Answer?

Violet · Answer 1

The answer is True. Public utilities do not exhibit the primary characteristics of a perfectly competitive market. Monopoly is the type of market structure for public utilities like gas and electricity since it only has one producer and many consumers. As a result, the frequency of buyers does not change the price of products and services.