Notifications
Clear all
Topic starter
Which of the following statements are true of a market place which is considered a 'perfect competition'? Select TWO.
- A . there are no barriers to entry
B. suppliers are selling differentiated products
C. competition is at its highest level possible
D. competition is not strong
Suggested Answer: A,C
Explanation:
In a 'perfect competition' there are no barriers to entry or exit, and competition is at its highest possible level. For more information on different types of market see p.40
Explanation:
In a 'perfect competition' there are no barriers to entry or exit, and competition is at its highest possible level. For more information on different types of market see p.40
Posted : 24/10/2022 9:36 pm