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    Survey of Economics Study Set 1
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    Exam 7: Perfect Competition
  5. Question
    Perfectly Competitive Markets Are Characterized By
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Perfectly Competitive Markets Are Characterized By

Question 21

Question 21

Multiple Choice

Perfectly competitive markets are characterized by:


A) a small number of very large producers.
B) very strong barriers to entry and exit.
C) firms selling a homogeneous product.
D) all of the above.

Correct Answer:

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