When considering perfect competition the absence of entry barriers implies that
A) no firm can enter the industry.
B) firms can enter but cannot get out of the industry easily.
C) all firms will earn economic profit.
D) firms can enter and leave the industry without serious impediments.
Correct Answer:
Verified
Q8: All of the following are characteristics of
Q9: Perfect competition is characterized by
A) many buyers
Q10: In a perfectly competitive industry
A) each firm
Q11: In a perfectly competitive market, which of
Q12: The perfectly competitive firm cannot influence the
Q14: A firm is a price taker if
A)
Q15: Under perfect competition, a firm that sets
Q16: Which of the following is a characteristic
Q17: A firm in a perfectly competitive industry
Q18: Each firm in a perfectly competitive industry
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