Which of the Following Is NOT a Defining Characteristic of Perfectly

question 359

Multiple Choice

Which of the following is NOT a defining characteristic of perfectly competitive industries?

• A) many buyers and sellers
• B) unrestricted entry and exit
• C) consumer knowledge about prices charged by each firm
• D) higher prices being charged for certain name brands

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Definitions:

Asian-American

Referring to Americans of Asian descent, encompassing a diverse group with roots in many different countries and cultures within Asia.

Latino

People from, or with ancestry in, Latin America, often used interchangeably with Hispanic.

African-American

A term referring to Americans of African descent, particularly those whose ancestors were enslaved and brought to the United States.

DSM-5

A crucial reference for healthcare providers, the Diagnostic and Statistical Manual of Mental Disorders, Fifth Edition, provides comprehensive direction on diagnosing mental illnesses.