Which of the Following Features Is Common to Both Perfectly

question 59

Multiple Choice

Which of the following features is common to both perfectly competitive markets and monopolistically competitive markets?

• A) Firms produce homogeneous goods.
• B) There is free entry.
• C) Long-run profits are zero.
• D) There is free entry and long-run profits are zero.

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Definitions:

Decision Support Systems

Computer-based information systems designed to assist managers in making decisions by providing relevant data and analytic tools.

Groupware

Collaborative software designed to support a group's work, particularly in terms of communication, coordination, and problem-solving.

Virtual Teams

Groups of individuals working together from different geographic locations, connected via technology like videoconferencing, emails, and collaborative software.

E-commerce

Electronic commerce involves buying and selling goods and services using the internet, and it includes the transfer of money and data to execute these transactions.