Which of the following is NOT an assumption of perfect competition?
A) Firms compete by making their product different from products produced by other firms.
B) There are no restrictions on entry into the market.
C) Established firms have no advantage over new firms.
D) Sellers and buyers are well informed about prices.
Correct Answer:
Verified
Q9: Which of the following is NOT an
Q10: In a perfectly competitive market, there are
A)
Q11: A perfectly competitive market is characterized by
A)
Q12: Perfect competition arises if the _ efficient
Q13: In perfect competition, restrictions on entry into
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
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