Which of the Following Is a Characteristic of a Perfectly

question 27

Multiple Choice

Which of the following is a characteristic of a perfectly competitive market?

• A)a few large firms 
• B)firms producing specialized products in order to attract consumers 
• C)each individual firm having some control over the market price 
• D)a large number of small firms

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Definitions:

Dependent Variable

In an experiment or study, the variable being tested and measured, expected to change as a result of variations in the independent variable.

Direction

In the context of statistics, it refers to the nature of the relationship between variables, indicating whether it is positive or negative.

Correlations

Statistical measures that describe the extent to which two variables change together.