Which of the Following Is Not a Characteristic of a Competitive

question 339

Multiple Choice

Which of the following is not a characteristic of a competitive market?

• A)Buyers and sellers are price takers.
• B)Each firm sells a virtually identical product.
• C)Entry is limited.
• D)Each firm chooses an output level that maximizes profits.

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Definitions:

Individual Differences

Refers to the unique variations among people in their abilities, personalities, learning styles, and levels of intelligence.

Work Stress

Stress experienced due to factors related to one's job, such as workload, work environment, and job insecurity, often leading to negative physical and mental health outcomes.

Respond

To give a reply or react in response to a request, stimulus, or situation.

Burnout

A state of physical, emotional, and mental exhaustion caused by prolonged stress, particularly in the workplace.