Which of the following is not a characteristic of a perfectly competitive market structure?
A) There are restrictions on exit of firms.
B) There are no restrictions to entry by new firms.
C) There are a very large number of firms that are small compared to the market.
D) All firms sell identical products.
A
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The rate of growth of productivity in the United States was positive during the 20th century
Indicate whether the statement is true or false
Suppose there are economies of scale in the production of a specialized memory chip that is used in manufacturing microwaves. This suggests that the microwave industry is a decreasing-cost industry
Indicate whether the statement is true or false
In the United States, ________ percent of all firms are sole proprietorships
A) 4 B) 14 C) 72 D) 82
A monetary system is preferable over the barter system because it
A) is easier to track by the government. B) limits cash leakages. C) reduces transaction costs. D) is determined by the Congress.