Which of the following is a defining characteristic of a perfectly competitive market?
A) advertisements by well-known celebrities
B) persistent economic profits in the long run
C) no restrictions on entry into the industry
D) higher prices being charged for certain name brands
Correct Answer:
Verified
Q15: Which of the following is TRUE regarding
Q16: Perfect competition exists in a market if
A)
Q17: A market is perfectly competitive if
A) each
Q18: In perfect competition, the
A) market demand for
Q19: In perfect competition
A) many firms sell slightly
Q21: Individual firms in perfectly competitive industries are
Q22: In perfect competition
A) each firm can influence
Q23: An example of a perfectly competitive firm
Q24: In perfect competition, each firm
A) can influence
Q25: In perfect competition, the elasticity of demand
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