Which of the Following Characteristics Does Perfect Competition Have in Common

question 141

Multiple Choice

Which of the following characteristics does perfect competition have in common with monopolistic competition?

• A)price-taking firms
• B)homogeneous products
• C)no barriers to entry
• D)horizontal demand curve
• E)neither market advertises

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Definitions:

Manifest Destiny

A 19th-century doctrine or belief that the expansion of the US throughout the American continents was both justified and inevitable.

John O'Sullivan

John O'Sullivan was a journalist and editor who coined the term "Manifest Destiny" to promote the belief that the United States was destined to expand across the North American continent.

Divinely Appointed Mission

A task or purpose believed to be assigned by a divine power, often invoking a sense of duty, destiny, or moral calling.

Telegraph Wire

A medium used historically for transmitting telegraphic messages through electrical signals over long distances.