Which of the following is NOT an assumption of perfectly competitive markets?
A) many buyers and many sellers
B) no restriction on entry
C) complete information about prices
D) new entrants have higher costs
Correct Answer:
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Q1: The smallest quantity of output at which
Q2: Which of the following is NOT an
Q3: Which of the following is TRUE regarding
Q4: In perfect competition, the product of a
Q5: Perfect competition implies that
A) there are many
Q7: In perfect competition
A) there are restrictions on
Q8: If the minimum efficient scale of a
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)
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