Which of the following is NOT a characteristic of a perfectly competitive industry?
A) The firms produce a homogenous product.
B) Sellers have better information about the product than consumers.
C) There is a large number of buyers and sellers.
D) The firms earn zero profit.
E) Firms can easily enter or exit the industry.
Correct Answer:
Verified
Q2: In competitive markets
A) the products sold are
Q3: In competitive markets
A) firms set the prices
Q4: The market for hot dogs on the
Q5: Which is an example of an almost
Q6: Which of the following is the closest
Q7: The perfectly competitive firm cannot influence the
Q8: Because of market forces,firms have _ when
Q9: All of the following are characteristics of
Q10: Competitive markets exist when
A) there are so
Q11: Each firm in a perfectly competitive industry
A)
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