Which of the following would prevent a market from being classified as perfectly competitive?
A) there are many buyers and sellers in the market
B) it is easy for new firms to enter the market
C) it is easy for existing firms to exit the market
D) buyers perceive significant differences among the products of different sellers
E) each buyer purchases only a tiny fraction of the total market quantity
Correct Answer:
Verified
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Q24: A perfectly competitive firm
A)can increase total revenue
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Q27: If one firm sets the market price
A)the
Q29: Under perfect competition,
A)a single seller sets the
Q30: Under conditions of perfect competition,if any one
Q31: In perfect competition,
A)there are typically two or
Q32: The model of perfect competition is most
Q33: A firm that operates in a perfectly
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