Microeconomics

Which Of The Following Is Not A Characteristic Of A Competitive Market?Select

Question

Which of the following is NOT a characteristic of a competitive market?

Select

one:

a. There are many buyers and sellers with easy entry and exit

b. Profit is maximized where marginal revenue equals price

c. In order to sell more output, a competitive firm must lower price

d. Each seller produces the same good

Microeconomics

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