Which of the Following Is a Characteristic of Perfect Competition

question 168

Multiple Choice

Which of the following is a characteristic of perfect competition?

• A)many sellers and few buyers
• B)many buyers and few sellers
• C)a heterogeneous product
• D)buyers and sellers having all relevant information
• E)high barriers to entry and exit

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Definitions:

Administrative Process

The procedure used by administrative agencies in fulfilling their three basic functions: rulemaking, enforcement, and adjudication.

Course Of Employment

Activities performed by an employee within the scope of their job duties or as authorized by their employer.

Family And Medical Leave Act

A U.S. federal law requiring covered employers to provide employees with job-protected and unpaid leave for qualified medical and family reasons.

Health-Care Coverage

A contract by which an insurance company agrees to cover part or all of a person's medical expenses in exchange for a premium.