Which of the Following Pairs of Characteristics Would Be Consistent

question 174

Multiple Choice

Which of the following pairs of characteristics would be consistent with imperfect competition?

• A)Many buyers and sellers and no barriers to entry
• B)Many buyers and sellers and a homogenous product
• C)No barriers to entry and all buyers and sellers have perfect information
• D)Many buyers and sellers and some barriers to entry
• E)Many buyers and sellers and everyone has perfect information

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Definitions:

North American Free Trade Agreement

An agreement among the United States, Canada, and Mexico designed to remove tariff barriers between the three countries.

Signatories

The people, countries, or entities that have signed an agreement, especially a country that has signed a treaty.

United States

A country located in North America, composed of 50 states, a federal district, five major self-governing territories, and various possessions.

Exportation

The act of sending goods or services to another country for sale or trade.