Which of the Following Is Not Necessarily a Characteristic of a Perfectly

question 113

Multiple Choice

Which of the following is not necessarily a characteristic of a perfectly competitive market structure?​

• A)Low prices
• B)A large number of buyers and sellers
• C)A homogeneous product
• D)Perfect information
• E)Easy entry and exit in the long run

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Definitions:

Social Facilitation

The phenomenon whereby an individual's performance improves when they are in the presence of others, typically due to increased arousal.

Dominant Response

The reaction or behavior that is most likely to be displayed by an individual in a given situation under pressure or stress.

Aggregate

A collection or sum of many individual parts, units, or individuals considered as a whole in statistics or research.

Collective

Refers to actions or situations that involve or are done by a group of people working together.