Which of the Following Is Not a Characteristic of Perfect

question 56

Multiple Choice

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

• A)buyers and sellers having no influence on price
• B)there are no barriers to entry or exit
• C)sellers produce and sell a heterogeneous product
• D)buyers and sellers have access to all relevant information

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Definitions:

Statistical Measures

Quantitative values that summarize and provide information about a set of data.

Characterize

To describe the distinctive qualities or features of something or someone.

Dispersion

A statistical term describing the spread or variability of a set of data points or values around a central value.

Kurtosis

A measure of the "tailedness" of the probability distribution of a real-valued random variable, indicating how the tails differ from the normal distribution.