Which of the Following Is NOT a Defining Characteristic of Perfectly

question 359

Multiple Choice

Which of the following is NOT a defining characteristic of perfectly competitive industries?

• A) many buyers and sellers
• B) unrestricted entry and exit
• C) consumer knowledge about prices charged by each firm
• D) higher prices being charged for certain name brands

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Definitions:

Formal Investment

Financial contributions into a business or project, typically made by investors seeking a return and documented through formal agreements.

Start A Business

The process of undertaking financial, administrative, and operational activities to initiate a commercial enterprise.

Money

A medium of exchange in the form of coins and banknotes; used to purchase goods and services and measure the value of things.

Bootstrapping

A business funding strategy where entrepreneurs use their own funding and resources to start and grow their businesses.