Which of the Following Is a Characteristic of a Competitive

question 124

Multiple Choice

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

• A)There are many buyers but few sellers.
• B)Many firms have market power because they own patents.
• C)Buyers and sellers are price takers.
• D)Firms sell differentiated products.

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Definitions:

Anxiety

A feeling of worry, nervousness, or unease, often about an impending event or something with an uncertain outcome.

Helplessness

A state of being unable to take action or make effective decisions in the face of adverse circumstances, often leading to diminished motivation.

Post-Traumatic Stress Disorder

A mental health condition that's triggered by experiencing or witnessing a terrifying event, characterized by flashbacks, nightmares, and severe anxiety.

Generalized Anxiety Disorder

A mental health disorder characterized by persistent and excessive worry about a variety of topics, events, or activities, without specific triggers.