Which of the following is NOT a characteristic of a perfectly competitive industry?

A) There are large numbers of buyers and sellers.
B) The firms in the industry produce a homogeneous product.
C) Sellers have better information about the product than consumers.
D) Any firm can enter or leave the industry without serious impediments.


Answer: C

Economics

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In 2007, Trailblazer Bicycle Company produced a mountain bike that was delivered to a retail outlet in November of 2007. The bicycle was sold to E.Z. Ryder in March of 2008. This bicycle is counted as:

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International standards for risk-based capital requirements were introduced under the

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Economics