Perfect Competition Is Characterized by All of the Following EXCEPT

question 101

Multiple Choice

Perfect competition is characterized by all of the following EXCEPT

• A) a large number of buyers and sellers.
• B) no restrictions on entry into or exit from the industry.
• C) considerable advertising by individual firms.
• D) buyers and sellers are well informed about prices.
• E) firms produce an identical product.

---

Definitions:

Community College

A type of educational institution providing higher education and lower-level tertiary education, granting certificates, diplomas, and associate degrees.

Comparative Advertising

A marketing strategy where a brand compares its product directly to a competitor's product to highlight its advantages.

Hard-Working

Characterized by a strong dedication and commitment to completing tasks and achieving goals with considerable effort.