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:

Low-cost

Referring to products, services, or strategies designed to be affordable and provide value while minimizing expenses.

Low-risk

Pertaining to situations, investments, or decisions that carry a minimal chance of adverse or negative outcomes.

Undue Pressure

Excessive stress or persuasion exerted on someone to make them act in a certain way, often leading to discomfort or ethical dilemmas.

Threats

Potential dangers or harms that could negatively affect an individual, organization, or system.