Which of the Following Is Not Characteristic of Perfect Competition

question 104

Multiple Choice

Which of the following is not characteristic of perfect competition?

• A)many buyers and sellers
• B)brand name advertising
• C)standardized products
• D)fully informed buyers and sellers
• E)free entry and exit of firms

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Definitions:

Partnership Agreement

A legal document that specifies the rights, responsibilities, and profit and loss distribution among business partners.

Transferable Shares

Shares of a company's stock that can be sold or transferred by the shareholder to another party without restrictions.

Partners

Individuals or entities engaged in business together under a formal agreement to share profits and losses.

Co-own

To have joint ownership or share the possession of a property or item with one or more parties.