Which of the following is not a characteristic of perfect competition? a. Absence of economies of scale for individual producers. b. Easy entry into the industry. c. A large number of firms advertising extensively in an attempt to increase market share. d. No product promotion strategy for individual firms e. Standardized products
Which of the following is not a characteristic of perfect competition? a. Absence of economies of scale for individual producers. b. Easy entry into the industry. c. A large number of firms advertising extensively in an attempt to increase market share. d. No product promotion strategy for individual firms e. Standardized products
Microeconomics: Principles & Policy
14th Edition
ISBN:9781337794992
Author:William J. Baumol, Alan S. Blinder, John L. Solow
Publisher:William J. Baumol, Alan S. Blinder, John L. Solow
Chapter10: The Firm And The Industry Under Perfect Competition
Section: Chapter Questions
Problem 3DQ
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Question
Which of the following is not a characteristic of
a. |
Absence of economies of scale for individual producers. |
|
b. |
Easy entry into the industry. |
|
c. |
A large number of firms advertising extensively in an attempt to increase market share. |
|
d. |
No product promotion strategy for individual firms |
|
e. |
Standardized products |
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