Which of the Following Is Not a Basic Characteristic of a Perfectly

question 86

Multiple Choice

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

• A)a large number of buyers and sellers
• B)significant nonprice competition among firms
• C)a standardized product produced by firms
• D)no barriers to entry
• E)no barriers to exit

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Definitions:

Contrast

The state of being strikingly different from something else, typically something in juxtaposition or close association, used to highlight or emphasize differences.

Stimulus Discrimination

Stimulus discrimination is the ability to distinguish between similar stimuli and respond differently based on those differences, often used in the context of learning and perception.

Marketers

Professionals or entities engaged in promoting, selling, and distributing products or services to consumers.

Trigger Feature

A specific characteristic or element of a product that prompts potential buyers to make a purchase decision.