Which of the Following Are NOT Characteristics of a Competitive

question 86

Multiple Choice

Which of the following are NOT characteristics of a competitive market?

• A) There is freedom of entry and exit.
• B) There are zero transaction costs.
• C) There are only one or two sellers.
• D) Buyers and sellers have complete information.

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Definitions:

Division I

The highest level of intercollegiate athletics sanctioned by the National Collegiate Athletic Association (NCAA) in the U.S., known for its rigorous competition and athletic scholarships.

College Football

An American football played by teams of student athletes fielded by American colleges, universities, and military academies.

Continuous Random Variable

A variable that can take an infinite number of possible values within a given range.

Probabilities

The measure of the likelihood that an event will occur, represented as a number between 0 and 1, where 1 indicates certainty.