need help with macroeconomics homework

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Economics

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which characteristic of competitive markets the statement describes.
b. Cucumbers are the same price at each stall.

Standardized good.
No transaction costs.
Participants are price takers.
Full information.


c. There is no difficulty moving around between stalls as you shop and choosing between farmers.

Participants are price takers.
Full information.
Standardized good.
No transaction costs.


d. You and the other customers all seem indifferent about which cucumbers to buy.

Participants are price takers.
Full information.
No transaction costs.
Standardized good.

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Explanation & Answer

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b. No transaction costs.

c.  Standardized good.

d. Participants are price takers.

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Anonymous
Just what I was looking for! Super helpful.

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