All Except One of the Following Are Characteristics of Perfect

question 255

Essay

All except one of the following are characteristics of perfect competition.Which is the exception?
A.All firms produce the same standardized product.
B.There are many producers, and each has only a small market share.
C.There are many producers; one firm has a 25% market share, and all of the remaining firms have a market share of less than 2% each.
D.There are no obstacles to entry into or exit from the industry.

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Definitions:

Infectious Disease

Illnesses caused by pathogens like bacteria, viruses, fungi, or parasites that can be spread directly or indirectly from one person to another.

Chronic Diseases

Long-lasting diseases that cannot be cured but can be managed through medication and lifestyle changes.

Diabetes

A metabolic disorder characterized by high blood sugar levels over a prolonged period due to insulin production, effectiveness, or both issues.

Influenza

A highly contagious viral infection of the respiratory passages causing fever, severe aching, and often occurring in epidemics.