Which of the Following Is Not a Characteristic of a Perfectly

question 198

Multiple Choice

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

• A)There are a very large number of firms that are small compared to the market.
• B)All firms sell identical products.
• C)There are no restrictions to entry by new firms.
• D)There are restrictions on exit of firms.

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Definitions:

Business Venture

An entrepreneurial enterprise or company with the aim to operate for profit by offering goods or services.

Straight Life Insurance

A type of life insurance policy that provides coverage for the insured's lifetime, with premiums typically paid until death.

Premiums

Payments made for insurance coverage, often periodically to maintain the insurance policy.

Beneficiary

An individual or entity chosen to receive benefits or assets from a will, insurance policy, or trust.