Which Statement Is NOT a Characteristic of a Perfectly Competitive

question 254

Multiple Choice

Which statement is NOT a characteristic of a perfectly competitive industry?

• A)Firms seek to maximize profits.
• B)Profits may be positive in the short run.
• C)There are many firms.
• D)Products are differentiated.

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Definitions:

Commitment

The state or quality of being dedicated to a cause, activity, or job; wholehearted dedication.

Computer-interactive Performance Tests

Assessments using computer technology to measure individuals' abilities or performance in specific tasks.

Employment Testing

The use of tests and assessments as a part of the hiring process to evaluate candidates' abilities, aptitude, and fit for a job.

Realistic Job Preview

An accurate presentation of the duties, responsibilities, and expectations of a job to prospective employees, designed to help them make informed decisions about their suitability.