Economics 2281 · O Level · Market structure

Market structure — practice question

Which statement is correct for firms operating in perfect competition?

  • AThey achieve economies of scale.
  • BThey are price takers.
  • CThey make use of non-price competition.
  • DThey produce differentiated products.

Worked solution & mark scheme

This 1-mark question has a full step-by-step worked solution and mark scheme.

  • Full mark scheme, point by point
  • Step-by-step worked solution
  • Write your answer & get it marked instantly by AI