Which of the following is NOT necessarily true in a market characterized by perfect competition? Select...
Which of the following is NOT necessarily true in a market characterized by perfect competition?
Select one:
a. Consumers know all prices charged by all firms.
b. All firms produce a slightly differentiated product.
c. Firms can not freely enter the market in the short run.
d. Firms can not freely exit the market in the short run and avoid all costs.
Homework Answers
Answer:
As per the given data & information
The correct option is b- All firms produce a slightly differentiated product
Please Kindly help with Thumbs up for this answer. If any doubts feel free to query. Thank you
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