### Characteristics of Competitive FirmsCompetitive firms have all of the following characteristics except:- O All of these are characteristics of competitive firms- O Many buyers and sellers- O Price takers- O Perfectly elastic demand- O Identical productsThis multiple-choice question is designed to evaluate the understanding of the characteristics of competitive firms in economic markets. Each option lists a possible characteristic, and the task is to identify the exception.

A market generates high competitiveness when the sellers wanted to effectively maximize its overall…

Competitive firms have all of the following characteristics except: O All of these are characteristics of competitive firms O Many buyers and sellers O Price takers Perfectly elastic demand O Identical products

Competitive firms have all of the following characteristics except: O All of these are characteristics of competitive firms O Many buyers and sellers O Price takers Perfectly elastic demand O Identical products

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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