Which of the following is not a characteristic of a perfectly competitive market structure? O All firms sell identical products. O There are restrictions on exit of firms. O There are a very large number of firms that are small compared to the market. O There are no restrictions to entry by new firms.

Which of the following is not a characteristic of a perfectly competitive market structure? O All firms sell identical products. O There are restrictions on exit of firms. O There are a very large number of firms that are small compared to the market. O There are no restrictions to entry by new firms.

Microeconomics

13th Edition

ISBN:9781337617406

Author:Roger A. Arnold

Publisher:Roger A. Arnold

Chapter9: Perfect Competition

Section: Chapter Questions

Problem 10WNG

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