A perfectly competitive market is a market that meets the conditions of
A. (1) many buyers and sellers, (2) all firms selling identical products, and (3) significant barriers to new firms entering the market.
B. (1) many buyers and sellers, (2) all firms selling identical products, and (3) no barriers to new firms entering the market.
C. (1) many buyers and sellers, (2) all firms selling differentiated products, and (3) no barriers to new firms entering the market.
D. (1) few buyers and sellers, (2) all firms selling identical products, and (3) no barriers to new firms entering the market.
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