Which Characteristic Is Present in a Perfectly Competitive Market

question 2

Multiple Choice

Which characteristic is present in a perfectly competitive market?

• A)Firms produce identical or nearly identical products
• B)Market price is beyond the control of any individual firm
• C)A firm's demand curve is perfectly horizontal at the market price
• D)Firms can enter and exit the market very easily
• E)all of the above

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Definitions:

Beneficiaries

Individuals or entities entitled to receive benefits or assets under the terms of a will, trust, insurance policy, or other financial instrument.

Auto Accident

An auto accident refers to a collision involving one or more vehicles, often resulting in property damage, injury, or death.

Permanently Disabled

A condition where an individual is unable to engage in any substantial gainful activity due to a physical or mental impairment that can be expected to result in death or has lasted or can be expected to last for a continuous period of not less than 12 months.

Guaranteed Insurability

An optional provision in an insurance contract that allows the insured to pay an extra premium initially in exchange for a guaranteed option to buy more insurance at certain specified times later on with no questions asked and no medical examination required.