Which Requirement for Perfect Competition Rules Out Trade Associations or Other

question 197

Multiple Choice

Which requirement for perfect competition rules out trade associations or other collusive arrangements in which firms work together to influence price?

• A)Freedom of entry and exit
• B)Homogeneity of product
• C)Perfect information
• D)Numerous small firms and customers

---

Definitions:

Data

Facts, figures, or information collected for analysis or used to inform decisions or conclusions.

Unethical

Actions or behaviors that violate moral principles, standards, or codes of conduct within a given context.

Ethical Messages

Communications that adhere to moral principles, promoting honesty, integrity, and fairness in content and delivery.

International Work Environment

A professional setting that involves the interaction and collaboration of employees from various countries and cultures.