Which of the following is not a characteristic of a competitive market?
A) Buyers and sellers are price takers.
B) Each firm sells a virtually identical product.
C) Free entry is limited.
D) Each firm chooses an output level that maximizes profits.
Correct Answer:
Verified
Q14: Free entry means that
A) the government pays
Q72: A market is competitive if Q80: In a perfectly competitive market, Q121: A key characteristic of a competitive market Q444: Competitive markets are characterized by Q445: Which of the following is not a Q446: Because the goods offered for sale in Q456: In a competitive market, the actions of Q462: Which of the following statements best reflects Q542: The analysis of competitive firms sheds light
A) no one
A)a small number
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