Which of the following is NOT a characteristic of a perfectly competitive industry?
A) There are large numbers of buyers and sellers.
B) The firms in the industry produce a homogeneous product.
C) Sellers have better information about the product than consumers.
D) Any firm can enter or leave the industry without serious impediments.
Correct Answer:
Verified
Q1: Being a price taker essentially means
A) a
Q2: Which of the following is NOT a
Q4: 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
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