Question

multiple select question select all that apply identify the features of competitive markets. no free entry and exit of firms free entry and exit of firms many buyers and sellers few buyers and sellers no externalities presence of negative externalities

Explanation:

Competitive markets are defined by a large number of buyers and sellers, free entry/exit for firms, and no externalities (as externalities are market failures that violate perfect competition assumptions).

Answer:

• Free entry and exit of firms
• Many buyers and sellers
• No externalities