Which of the Following Is a Characteristic of Perfect Competition

question 14

Multiple Choice

Which of the following is a characteristic of perfect competition?

• A) easy entry and exit
• B) few firms
• C) differentiated products
• D) none of the above

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Definitions:

Memory

The cognitive function that allows individuals to store, retain, and recall information.

Operant Conditioning

Learning that takes place as a consequence of behavior; a person’s actions are instrumental in determining whether learning takes place.

Positive Reinforcement

A technique used to encourage desired behavior by offering rewards or positive outcomes following that behavior.

Vibrations

Oscillatory motions or energy waves moving through a medium or vacuum.