Which of the Following Is Not an Assumption of Perfectly

question 229

Multiple Choice

Which of the following is not an assumption of perfectly competitive markets?

• A)There are many sellers and many buyers, all of which are small relative to the market.
• B)Each firm produces a similar but not identical product.
• C)There are no barriers to new firms entering the market.
• D)The products sold by all firms in the market are identical.

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Definitions:

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