Which of the Following Is Inconsistent with the Model of Perfect

question 18

Multiple Choice

Which of the following is inconsistent with the model of perfect competition?

• A)ease of entry into the industry
• B)ease of exit from the industry
• C)many buyers and sellers in the industry
• D)advertising of product differences in the industry
• E)a horizontal demand curve facing each firm in the industry

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Definitions:

Watch-Making Plant

A factory or workshop where watches are manufactured, assembled, and sometimes designed.

Role Expectations

The behaviors and actions anticipated from an individual performing a specific role or position within a social or organizational context.

Groupthink

Groupthink is a psychological phenomenon that occurs within a group of people, in which the desire for harmony or conformity results in an irrational or dysfunctional decision-making outcome.

Very Cohesive

Describes a group or organization characterized by a high degree of unity, solidarity, and mutual support among its members.