Which of the following is NOT a characteristic of perfect competition?
A) There are large numbers of buyers and sellers.
B) The firms in an industry produce goods that are different from each other.
C) Any firm can easily enter or leave the industry.
D) Both buyers and sellers have equally good information.
Correct Answer:
Verified
Q1: Being a price taker essentially means
A) a
Q3: 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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