Question

the large - number - of - sellers condition of perfect competition is met when:
a. there are more sellers than buyers in the market.
b. there are more than 100 firms in the industry.
c. each firm is so small relative to the total market that no single firm can influence the market price.
d. there are more than 50 firms in the industry.

Explanation:

The large-number-of-sellers condition in perfect competition centers on the inability of any single firm to affect the market price, which comes from each firm being negligible relative to the overall market. Numerical thresholds (like 50 or 100 firms) or seller-buyer count comparisons do not define this condition.

Answer:

c. each firm is so small relative to the total market that no single firm can influence the market price.