Which of the following is not characteristic of perfect
Which of the following is not characteristic of perfect competition?
a. many buyers and sellers
b. brand name advertising
c. standardized products
d. fully informed buyers and sellers
e. free entry and exit of firms
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economists assume that firms seek toa maximize accounting profitb maximize economic profitc maximize total revenued
in perfect competition if one firm raises its pricea others will followb that firm will increase its revenuesc that
a firm in a perfectly competitive marketa can raise the price of its product and sell more outputb can lower the price
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which of the following is not characteristic of perfect competitiona many buyers and sellersb brand name advertisingc
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