Which Type of Competition Is Characterized by a Large Number

question 27

Multiple Choice

Which type of competition is characterized by a large number of firms, heterogeneous products and low cost of entry and exit?

• A) perfect competition
• B) monopolistic competition
• C) oligopoly
• D) monopoly

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Definitions:

Erroneous Amount

An incorrect or mistaken quantity or figure in financial or data reports.

Account Balances

The amounts of money present in or owed by an account at any given time.

Retained Earnings

The portion of net income that is not distributed to shareholders as dividends but is kept by the company for reinvestment in its core business or to pay debt.

Office Equipment

The fixtures, machinery, and devices used in an office environment to support business operations, including computers, printers, and copiers.