Which of the Following Is Characteristic of a Perfectly Competitive

question 82

Multiple Choice

Which of the following is characteristic of a perfectly competitive market?

• A)Differentiated products.
• B)Price below marginal revenue.
• C)A large number of firms.
• D)Significant barriers to entry.

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Definitions:

Associated Risks

The potential negative consequences or uncertainties linked to a particular action, decision, or situation.

Unethical Tactic

An unethical tactic refers to a morally wrong or forbidden approach to achieve something, often used in negotiations or competitions.

Negotiator

A negotiator is an individual who is involved in discussions between two or more parties with the goal of reaching an agreement or resolving a dispute.

Positive Consequences

Beneficial outcomes that result from certain actions or behaviors, often serving as incentives or rewards.