Which of the Following Is a Characteristic of Perfect Competition

question 81

Multiple Choice

Which of the following is a characteristic of perfect competition?

• A)Substantial barriers to entry and exit
• B)Differentiated products
• C)Few sellers
• D)Differentiated prices
• E)Negligible barriers to entry or exit

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Definitions:

Pocket Money

A small amount of money given to children by their parents as an allowance.

Maximum Utility

The highest level of satisfaction or fulfillment obtainable by an individual or society from their economic activities.

Hard Candies

Sweet confections that are solid and brittle, made primarily from sugar with various flavorings and colorings.

Pocket Money

An amount of money given at regular intervals by parents to their children, often to teach them about managing money.