Which of the following is not a condition for perfect competition?
(A) Many buyers and sellers participate in the market.
(B) Sellers are able to enter and exit the market freely.
(C) Sellers offer a wide variety of products.
(D) Buyers and sellers are well informed about products.
Ans: (C) Sellers offer a wide variety of products.
Economics
You might also like to view...
Refer to Figure 3.1. Which assumption concerning preferences do Alvin's indifference curves violate?
A) Diminishing marginal rates of substitution B) Transitivity of preferences C) More is preferred to less D) Completeness
Economics
During the 1870s, ___ surpassed ___ as the leading source of power
a. animals; humans b. water; animals c. steam; water d. electricity; steam
Economics