Which of the Following Is Not a Characteristic of a Perfectly

question 59

Multiple Choice

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

• A) There is a large number of small firms.
• B) Firms sell a homogeneous product.
• C) Firms can easily enter or exit the market.
• D) Firms are price makers, not price takers.

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Definitions:

Complaint

A formal legal document submitted to a court by the plaintiff stating the allegations against the defendant and seeking legal relief.

Jurisdictional Allegations

Claims made in a legal proceeding that outline the authority of the court to hear a case.

Witness List

A document containing the names of witnesses intended to testify in a trial, provided by the parties in a legal case.

Court's Calendar

The schedule of hearings, trials, and other legal proceedings managed by a court.