Which of the following is a characteristic of perfect competition?
A) Large barriers to entry.
B) A small number of firms.
C) Firms selling unique goods.
D) None of the alternatives are characteristics of perfect competition.
Correct Answer:
Verified
Q150: A firm in a perfectly competitive industry
A)is
Q151: When a firm leaves a perfectly competitive
Q152: If a firm shuts down, its
A)fixed costs
Q153: The short-run supply curve of a perfectly
Q154: The short-run supply curve of the perfectly
Q156: The long run for the industry is
Q157: For a perfectly competitive firm, the short-run
Q158: The short-run supply curve of the perfectly
Q159: In perfect competition, an increase in fixed
Q160: Figure 10-5
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