All of the Following Are Characteristics of a Perfectly Competitive

question 129

Multiple Choice

All of the following are characteristics of a perfectly competitive market,except one.Which is the exception?

• A)a large number of sellers
• B)a standardized product
• C)no barriers to entry
• D)sellers can easily exit the market
• E)an intensive rivalry among the sellers

---

Definitions:

Departmental Contribution

The amount of revenue contributed by a specific department after deducting its direct and indirect costs.

Overhead

Refers to the indirect costs required to operate a business, such as rent, utilities, and administrative expenses, not directly tied to the production process.

Controllable Costs

Expenses that a manager or business can influence or manage through decisions and actions.

Profit Margin

A financial metric indicating the percentage of revenue that exceeds the costs of goods sold, showcasing the profitability of a company.