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:

Journal Entries

are records of financial transactions in the accounting system, ensuring that the debit and credit balances are equal.

Contractual Agreement

A legally binding contract that outlines the terms and conditions between two or more parties, specifying obligations, rights, and duties.

Proportionate Rights

The entitlements of shareholders to maintain their fractional ownership of a company by buying a proportionate number of new shares during issuance.

Financial Statements

Financial statements are formal records of the financial activities and position of a business, person, or other entity, providing an overview of a company's financial performance and financial position.