Which of the following is not necessarily a characteristic of perfect competition?
A) low prices
B) a large number of buyers and sellers
C) a homogeneous product
D) perfect information
E) easy entry and exit in the long run
Correct Answer:
Verified
Q6: Which of the following markets best approximates
Q7: Which of the following would not help
Q8: Which of the following is likely to
Q9: Perfectly competitive firms respond to changing market
Q10: Perfectly competitive firms are price takers because
A)all
Q12: In a perfectly competitive industry we are
Q13: In perfect competition, each firm's output is
Q14: Suppose Thelma and Louise both sell fried
Q15: Firms in perfect competition have no control
Q16: Which of the following firms is most
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