Which of the Following Is Not a Characteristic of a Perfectly

question 59

Multiple Choice

Which of the following is not a characteristic of a perfectly competitive market?

• A) There is a large number of small firms.
• B) Firms sell a homogeneous product.
• C) Firms can easily enter or exit the market.
• D) Firms are price makers, not price takers.

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Definitions:

Goals

Objectives or desired outcomes that an individual or organization aims to achieve within a specific timeframe.

Leadership

The act of guiding or influencing others towards the achievement of goals, characterized by inspiration, vision, and the ability to direct.

Coercive Power

Coercive power is an authoritative strategy based on the fear of punishment or the enforcement of discipline to influence others to comply with demands or expectations.

Withhold Positive Outcomes

A strategy or action where expected or deserved positive results are deliberately not provided or delayed.