Which of the Following Is Not a Characteristic of a Perfectly

question 59

Multiple Choice

Which of the following is not a characteristic of a perfectly competitive market?

• A) There is a large number of small firms.
• B) Firms sell a homogeneous product.
• C) Firms can easily enter or exit the market.
• D) Firms are price makers, not price takers.

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Definitions:

Pancreas

An organ in the abdominal cavity involved in digestion and blood sugar regulation, producing digestive enzymes and insulin.

Female Pelvis

The lower part of the trunk of the human body between the abdomen and the thighs; in females, it includes the structures involved in reproduction.

Ovaries

Female reproductive organs in which eggs are produced and hormones like estrogen and progesterone are secreted.

Mammary Glands

Glands located in the breasts of female mammals that produce milk to feed young offspring.