Which of the Following Characteristics of Competitive Markets Is Necessary

question 417

Multiple Choice

Which of the following characteristics of competitive markets is necessary for firms to be price takers? (i)
There are many sellers.
(ii)
Firms can freely enter or exit the market.
(iii)
Goods offered for sale are largely the same.

• A)(i) and (ii) only
• B)(i) and (iii) only
• C)(ii) only
• D)(i), (ii), and (iii)

---

Definitions:

Action-Adventure Film

A genre of film characterized by a combination of action sequences and adventurous situations, often featuring heroes facing off against villains.

Influential Franchise

A media franchise that has had a significant impact on culture, trends, and industry standards through its popularity and financial success.

Directorial Debut

The first film or project directed by an individual, marking their introduction to the film industry or genre as a director.

Paul Reubens

An American actor and comedian best known for his character Pee-wee Herman, bringing a unique comedic aesthetic to both film and television.