Which of the Following Is Not a Characteristic of Perfect

question 6

Multiple Choice

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

• A)A commodity product
• B)A large number of independently acting sellers
• C)Freedom of entry
• D)The existence of externalities
• E)Each firm is a price taker

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Definitions:

State Action

Activities or actions taken by government bodies or officials, covered by legal and constitutional protections.

Property Right

Legal rights to possess, use, and dispose of assets or properties.

State University

A public university that is primarily funded and operated by a state government.

State Action

Activities or actions carried out by government officials or entities, which are subject to constitutional protections against discrimination or infringement of rights.