Which of the Following Is NOT a Characteristic of Perfect

question 194

Multiple Choice

Which of the following is NOT a characteristic of perfect competition?

• A) There are many firms in the industry.
• B) It is very difficult for a firm to enter or leave the market.
• C) There is great similarity among products offered by different firms.
• D) Firms are small.

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Definitions:

Universal Applications

Broadly accessible and applicable tools or programs, often referring to software that can be used across various devices and operating systems.

Predict Outcomes

The process of forecasting or estimating the future results or effects of actions taken in the present.

Corporate Ethics Codes

A set of principles and guidelines that a company adopts to govern its employees' behavior, supporting ethical business practices.

Ethical Responsibility

The duty to act in a morally correct manner, taking into account the impacts of one's decisions and actions on others and society.