Which of the Following Is Not Necessarily a Characteristic of Perfect

question 120

Multiple Choice

Which of the following is not necessarily a characteristic of perfect competition?

• A)low prices
• B)a large number of buyers and sellers
• C)a homogeneous product
• D)perfect information
• E)easy entry and exit in the long run

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Definitions:

Indicator Variables

Variables used in statistical models to represent categorical data by assigning numerical values, such as 0 or 1, to different categories.

Indicator Variables

Indicator variables are numerical or categorical variables in statistics that take on a value of 0 or 1 to indicate the absence or presence of a particular characteristic or attribute.

Inferences

The process of drawing logical conclusions about a population based on sample data.

Multiple Regression Model

A method in statistics that takes advantage of various influencing factors to predict the response of a dependent variable.