if you want to remove an article from website contact us from top.

    which of the following is not a characteristic of perfect competition

    Mohammed

    Guys, does anyone know the answer?

    get which of the following is not a characteristic of perfect competition from screen.

    Which of the following is not a characteristic of perfect competition?

    Click here👆to get an answer to your question ✍️ Which of the following is not a characteristic of perfect competition?

    Question

    Which of the following is not a characteristic of perfect competition?

    A

    Large number of firms

    B

    Perfect mobility of factors

    C

    Informative advertising to ensure that consumers have good information

    D

    Freedom of entry and exit into and out of the market

    Medium Open in App

    स्रोत : www.toppr.com

    Which of the following is NOT a characteristic of perfect competition

    Which of the following is NOT a characteristic of perfect competition? a) Free entry and exit of the firms b) The demand curve of firm is horizontal c) The marginal revenue curve is horizontal d) An individual firm can influence the price

    Examveda

    Which of the following is NOT a characteristic of perfect competition?

    A. Free entry and exit of the firms

    B. The demand curve of firm is horizontal

    C. The marginal revenue curve is horizontal

    D. An individual firm can influence the price

    Answer: Option D

    Solution(By Examveda Team)

    An individual firm can influence the price is not a characteristic of perfect competition. All goods in a perfectly competitive market are considered perfect substitutes, and the demand curve is perfectly elastic for each of the small, individual firms that participate in the market. These firms are price takers–if one firm tries to raise its price, there would be no demand for that firm's product.

    Join The Discussion

    Related Questions on Economics

    The capital that is consumed by an economy or a firm in the production process is known as

    A. Capital loss B. Production cost C. Dead-weight loss D. Depreciation View Answer

    Who propounded the opportunity cost theory of international trade?

    A. Ricardo B. Marshall

    C. Heckscher & Ohlin

    D. Haberler View Answer

    Which among the following statement is INCORRECT?

    A. On a linear demand curve, all the five forms of elasticity can be depicted

    B. If two demand curves are linear and intersecting each other, then, coefficient of elasticity would be same on different demand curves at the point of intersection.

    C. If two demand curves are linear and parallel to each other, then, at a particular price, the coefficient of elasticity would be different on different demand curves.

    D. The price elasticity of demand is expressed in terms of relaive not absolute changes in Price and Quantity demanded.

    View Answer

    If the demand for a good is inelastic, an increase in its price will cause the total expenditure of the consumers of the good to

    A. Increase B. Decrease C. Remain the same D. Become zero View Answer

    More Related Questions on Economics

    Read More: MCQ Type Questions and Answers

    Arithmetic Ability

    Competitive Reasoning

    Competitive English Data Interpretation General Knowledge History Geography Current Affairs Banking Awareness

    Computer Fundamentals

    Networking C Program Java Program SQL Database HTML CSS Javascript PHP Computer Science

    Electrical Engineering

    Mechanical Engineering

    Civil Engineering

    Chemical Engineering

    Commerce Management

    स्रोत : www.examveda.com

    Which of the following is not a characteristic of perfect competition? A. Product differentiation B. Price

    Answer to: Which of the following is not a characteristic of perfect competition? A. Product differentiation B. Price-taking behavior C. Freedom...

    Invisible hand

    Which of the following is not a characteristic of perfect competition? A. Product...

    Which of the following is not a characteristic of perfect competition? A. Product... Question:

    Which of the following is not a characteristic of perfect competition?

    A. Product differentiation

    B. Price-taking behavior

    C. Freedom of entry or exit for firms

    D. A large number of buyers and sellers

    Market Structures:

    One of the concepts studied in microeconomics is the concept of market structures. There are different types of markets, such as perfect competition, oligopoly, monopoly, and monopolistic competition.

    Answer and Explanation:

    Become a Study.com member to unlock this answer! Create your account

    View this answer

    The correct answer is: A. Product differentiation

    Product differentiation is not a characteristic of perfect competition. Price taking behavior,...

    See full answer below.

    Become a member and unlock all Study Answers

    Start today. Try it now

    Create an account

    Ask a question

    Our experts can answer your tough homework and study questions.

    Ask a question

    Search Answers

    Learn more about this topic:

    Perfect Competition in Economics & Adam Smith's 'Invisible Hand'

    from

    Chapter 7 / Lesson 1

    18K

    Perfect competition is perpetuated in regulated economic market systems, as the concept of the 'invisible hand,' devised by Adam Smith, keeps supply and demand lines in check. Learn more about these concepts, the five requirements for a perfectly competitive market, and market equilibrium, seeing applications of each through examples.

    Related to this Question

    Related Answers Related Lessons Related Courses

    The manager of a perfectly competitive firm has...

    In a free market: a. governments intervene. b....

    Suppose you are given the following information...

    Your firm is one of 100 identical firms...

    Explore our homework questions and answers library

    Browse by subject

    स्रोत : study.com

    Do you want to see answer or more ?
    Mohammed 9 month ago
    4

    Guys, does anyone know the answer?

    Click For Answer