Which of the Following Is a Characteristic of a Competitive

question 124

Multiple Choice

Which of the following is a characteristic of a competitive market?

• A)There are many buyers but few sellers.
• B)Many firms have market power because they own patents.
• C)Buyers and sellers are price takers.
• D)Firms sell differentiated products.

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Definitions:

Traffic Flow

The study or monitoring of vehicular or data traffic in terms of movement and management.

Logical Ports

Virtual communication endpoints used by computer networks to differentiate various software applications or processes.

Firewall

A security system designed to prevent unauthorized access to or from a private network by controlling incoming and outgoing traffic.

Packet Sniffer

A tool or software used to monitor and capture packets of data passing through a network, used for analysis or troubleshooting.