All of the following are characteristics of a perfectly competitive market,except one.Which is the exception?
A) a large number of sellers
B) a standardized product
C) no barriers to entry
D) sellers can easily exit the market
E) an intensive rivalry among the sellers
Correct Answer:
Verified
Q1: Firms are assumed to be price takers
Q2: The number of sellers in a market
Q4: Firms in a perfectly competitive market cannot
Q5: Which of the following factors would be
Q6: In a perfectly competitive market,the good or
Q7: Which of the following helps to classify
Q8: The characteristics of a market that influence
Q9: Of the following products,which is most standardized?
A)pizza
B)concrete
C)automobiles
D)clothing
E)paintings
Q10: Which of the following is the closest
Q11: The distinguishing characteristics of different market structures
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