28-05-2024
Business

Answered

Which of the following is a characteristic of an imperfect market
A. many and equal numbers of buyers and sellers
О
B. highly knowledgable buyers and sellers
C. all products are alike
D. fixed location

Answer :

GinnyAnswer GinnyAnswer

28-05-2024

Final answer:

Imperfect markets have distinct features like numerous buyers and sellers, homogenous products, and perfect information.

Explanation:

Imperfect market is characterized by many buyers and sellers, homogeneous products, free entry and exit, and perfect information. In contrast to perfect competition, imperfect markets have some level of market power allowing producers to influence prices.

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