Which of the Following Is Not True of a Perfectly

question 235

Multiple Choice

Which of the following is not true of a perfectly competitive market?

• A)Firms experience constant returns to scale.
• B)Firms face significant barriers to entry.
• C)Economic profit is zero.
• D)Each firm chooses the quantity it wants to sell.
• E)Each firm knows the prices of outputs and inputs.

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Definitions:

Negotiated

The process through which parties come together to discuss and settle upon the terms of an agreement or contract.

Without Recourse

A term indicating that the seller of a financial instrument relinquishes the right to demand payment from the buyer in case of non-payment.

Indorser's Liability

The responsibility assumed by an endorser (or indorser) when they sign a negotiable instrument, making them liable if the instrument is not honored.

Nonnegotiable

Pertaining to an item or document that cannot be transferred or assigned to another party in exchange for money or goods.