Aperfectly competitive market is one in which: multiple choicea. fully informed, price-taking buyers and sellers easily trade a standardized good or service. b. fully informed, price-making buyers and seller easily trade a standardized good or service. c. uninformed, price-taking buyers and sellers easily trade a standardized good or service. d. uninformed, price-making buyers and seller easily trade a standardized good or service.

A.

Explanation:

Characteristics of a Perfectly Competitive Market:

-Very Large Number of Sellers and Buyers.

Each firm produces an extremely small percent of total market supply.

-Identical (Homogeneous) Product.

The product sold by one firm is identical to that sold by another firm.

-Easy Entry/Easy Exit.

Easy to enter this industry because costs are low. Also easy to quit this industry because of the low costs.

-Perfect Information.

Buyers and Sellers Have Perfect Information. All the buyers and sellers know all of the relevant information.

-The Competitive Firm Is A Price Taker.

The firm must take the market price as given.

if you use only 25 for your entertainment and only 200 for the groceries that you really need and take out the 50 per month for the computer then that should be enough

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