Which of the Following Is Not a Characteristic of a Perfectly

question 423

Multiple Choice

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

• A)​Firms are price takers.
• B)​Individual firms are price setters.
• C)​Firms are able to sell all of the output that they choose to produce.
• D)​Firms produce identical goods.

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Definitions:

Spider Monkey

A type of New World monkey known for its long limbs and tail, primarily living in the canopies of tropical forests.

Chimpanzee

A great ape with large ears, mainly black coloration, and lighter skin on the face, native to the forests of central and West Africa.

Orangutan

A large arboreal ape found in the rainforests of Borneo and Sumatra, known for its intelligence, long arms, and reddish-brown hair, and facing significant threats from habitat loss.

Restricted Diet

A diet limited in certain foods or nutrients, often for medical reasons or personal choice.