Which of the Following Is Not a Characteristic of Perfect

question 184

Multiple Choice

Which of the following is not a characteristic of perfect competition?

• A)Firms and consumers all have perfect information about the good and market.
• B)Sellers can enter the market easily.
• C)All goods sold are identical.
• D)All consumers have identical individual demand curves.

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Definitions:

Mutual Funds

Investment programs funded by shareholders that trade in diversified holdings and are professionally managed.

Fabric Store

A retail establishment that sells cloth and materials for sewing, clothing creation, and other textile crafts.

Consignment

An arrangement in which goods are left with a third party to sell, but the consignor retains ownership until the items are sold.

Mutual Trust

A fundamental element in employment relationships, emphasizing the expectation for parties to act honestly and considerately towards each other.