Which of the following is NOT a characteristic of a perfectly competitive market?
A) The products sold by the firms in the market are homogeneous.
B) There are many buyers and sellers in the market.
C) It is difficult for a firm to enter or leave the market.
D) Each firm is a price taker.
Correct Answer:
Verified
Q1: Being a price taker essentially means
A) a
Q2: Which of the following is NOT a
Q3: Which of the following is NOT a
Q5: All of the following are characteristics of
Q6: A market structure in which the decisions
Q7: A market structure in which the decisions
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
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents