Which of the Following Characteristics Relate(s) to Perfect Competition

question 114

Multiple Choice

Which of the following characteristics relate(s) to perfect competition?
I. An industry is dominated by several large firms.
II. Consumers cannot distinguish one firm's product from another.
III. New firms can easily enter the industry.

• A) I and II
• B) II and III
• C) II
• D) III

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Definitions:

Stereotypic Traits

Generalized and often simplified characteristics attributed to a particular group of people, frequently based on misconceptions or incomplete information.

Attitudes Toward Women

The beliefs, feelings, and behavioral tendencies directed towards women, which can be positive, negative, or neutral.

Changing

Changing involves the process of making or becoming different in some respect.

Evidence

Information or data that supports a conclusion, claim, or proposition.