Question

. Markets and competition Identical products, as well as a large number of buyers and sellers, are characteristics of a market. In such markets, sellers of goods influence the prevailing market price, giving them the role of price in the market. True or False: The market for lettuce does not exhibit the two primary characteristics that define perfectly competitive markets. True

Answer 1

The correct answer is: false.

Step-by-step explanation:

The market for lettuce does exhibit the two primary characteristics that define perfectly competitive markets that is the fact of the sellers having identical products to offer and a large number of buyers and sellers are in the market and therefore is also known as an atomized market where both buyers and sellers do not influece in the price of the market but instead this price is already given by the market and accepted by both parties.