A Perfectly Competitive Market Has All of the Following Characteristics

question 16

Multiple Choice

A perfectly competitive market has all of the following characteristics except:

• A)Each seller offers to sell a small part of the total quantity transacted.
• B)Each buyer offers to buy a large part of the total quantity transacted.
• C)There are many buyers.
• D)There are many sellers.

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Definitions:

Percent

A part or other object per hundred, used in expressing ratios, fractions, or comparison between parts.

Internal Disease

A disease affecting one or more internal organs of the body.

Larynx

A voice box located in the throat responsible for producing sound.

Persistent Hoarseness

A prolonged and constant abnormal change in voice quality, often indicating a need for medical evaluation to determine underlying causes.