​Perfect competition is characterized by a large number of buyers and sellers with identical products and no significant barriers to entry.Group of answer choicesTrueFalse

Perfect competition has all of the following characteristics EXCEPT _______________.a.well-informed buyers and sellers with respect to prices.b.a large number of buyers and sellers.c.no restrictions on entry into or exit from the industryd.considerable advertising by individual firms

List the characteristics of perfect competition:(Баллов: 2)a very large number of producers and consumers and no barriers to entry or exitdifferentiated productlarge barriers to entry and exitsignificant number of producers and consumers

34.Which of the following factors is not a characteristic of perfect competition?  A. A large number of buyers and sellers  B. Well-informed buyers and sellers about product prices  C. Individual firms spend a considerable amount on advertising  D. No restrictions on entry into or exit from the industry

List the characteristics of perfect competition:

Perfect competition and monopolistic competition are similar in that both market structures include A. price-taking behaviour by firms. B. a homogeneous product. C. no barriers to entry. D. very few firm