Which Is a Feature of a Purely Competitive Market

question 144

Multiple Choice

Which is a feature of a purely competitive market?

• A) There are price differences between firms producing the same product.
• B) There are significant barriers to entry into the industry.
• C) The industry's demand curve is perfectly elastic.
• D) Products are standardized or homogeneous.

---

Definitions:

Genetic Mutations

Changes or alterations in the DNA sequence of an organism that can lead to variations in physical appearance, function, or health.

Environmental Pollutants

Substances introduced into the environment that can cause harm or discomfort to organisms, including humans.

Sickle-cell Gene

A genetic variant that affects the shape of red blood cells, causing them to assume a sickle shape, which can lead to various health complications.

Malaria

A mosquito-borne infectious disease affecting humans and other animals caused by Plasmodium parasites, characterized by fever, vomiting, and other flu-like symptoms.