Which of the following is NOT a characteristic of a perfectly competitive industry?
A) Firms seek to maximize profits.
B) Profits may be positive in the short run.
C) There are many firms.
D) Products are differentiated.
Correct Answer:
Verified
Q2: Which of the following is a necessary
Q5: Individuals in a market who must take
Q7: A perfectly competitive firm is a:
A)price taker.
B)price
Q9: If a California avocado stand operates in
Q11: The perfectly competitive model assumes all of
Q12: An assumption of the model of perfect
Q14: The assumptions of perfect competition imply that:
A)individuals
Q15: If a Florida strawberry wholesaler operates in
Q16: For the Colorado beef industry to be
Q18: If all firms in an industry are
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