Which of the following is not a characteristic of a perfectly competitive market
a. buyers and sellers are well informed about the market
b. standardized product
c. many buyers and few sellers
d. easy exit out of the industry
e. easy entry into the industry
C
You might also like to view...
In comparison to the case of a perfectly competitive home market, the welfare effects of a tariff under a home monopoly are _______, and the deadweight loss for the home monopoly is ________.
a. the same; the same b. higher; lower c. lower; higher d. lower; lower
What did Steckel (1986) find when he compared the slave population to today's white population?
(a) The mortality rates of the slaves were much higher than those of modern whites. (b) Prenatal and postnatal care was the same. (c) The number of pregnancies brought to term in each group was about the same. (d) All of the above.