Which of the Following Is Not a Characteristic of Perfect

question 6

Multiple Choice

Which of the following is not a characteristic of perfect competition?

• A)A commodity product
• B)A large number of independently acting sellers
• C)Freedom of entry
• D)The existence of externalities
• E)Each firm is a price taker

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Definitions:

Mum Effect

is the tendency to avoid communicating unfavorable news or feedback due to fear of the recipient's reaction or to avoid conflict.

Grapevine

An informal communication network among people in an organization, not sanctioned by formal channels.

Information Filtering

The process of sifting through and reducing the volume of information available to focus on the most relevant or important details.

Informal Communication

The exchange of information, thoughts, or messages in an unofficial capacity, often through social interactions or casual means.