Which of the Following Is Not a Characteristic of a Competitive

question 214

Multiple Choice

Which of the following is not a characteristic of a competitive price-searcher market?

• A) Each firm produces a differentiated product.
• B) The entry barriers are high.
• C) Each firm faces a downward-sloping demand curve.
• D) The number of firms in the market is large.

---

Definitions:

Slippery Slope

A logical fallacy that argues a relatively small first step leads to a chain of related events culminating in some significant effect, often used as a form of argument to caution against a course of action.

Extracting

The act of removing or obtaining a resource from a source, often used in the context of mining, harvesting, or obtaining information from data.

Barrel

A unit of measurement for oil and petroleum products, equivalent to 42 U.S. gallons.

Conservation

The management of resources to prevent waste, destruction, or neglect, ensuring their sustainability for future generations.