Which of the Following Is Not an Assumption of Perfect

question 1

Multiple Choice

Which of the following is not an assumption of perfect competition

• A)perfect information
• B)many buyers and sellers
• C)each product has a unique quality
• D)freedom of entry and exit

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Definitions:

Collective Bargaining Contract

A legal agreement between an employer and a labor union representing workers, outlining wages, hours, and working conditions for employees.

Union Members

Union members are individuals who belong to a labor union, an organization that represents workers in negotiations with employers over wages, benefits, and working conditions.

Closed Shop

A place of employment where only workers who are already members of a labor union may be hired.

Union Membership

The condition of being a member of an organization formed by workers in various sectors to protect and advance their rights and interests.