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:

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The period in the Americas before the arrival of Christopher Columbus in 1492, characterized by various indigenous civilizations.

Tribal People

Indigenous communities with distinct cultures, traditions, languages, and connection to ancestral lands, often living in close harmony with nature.

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