Which of the Following Is Not a Characteristic of the Structure

question 73

Multiple Choice

Which of the following is not a characteristic of the structure of perfectly competitive markets?

• A) Each individual firm is small in size relative to the overall market.
• B) Few sellers.
• C) Homogeneous product.
• D) Easy, low cost entry and exit.

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Definitions:

Specific-to-general

A method of organization where details start with specific instances and lead to a general conclusion or understanding.

Cause-and-effect

A relationship in which one event (the cause) makes another event happen (the effect), indicating a linkage between actions and outcomes.

Problem-solution

A method or format used to describe an issue and propose remedies or strategies for addressing it, common in writing, presentations, and analytical discussions.

Correspondence

The exchange of written communication between individuals or organizations.