Q
Which of the following is not a characteristic of a competitive market ?
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A
A. All of these answers are characteristic of a competitive market
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B
B. The are many buyers and sellers in the market
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C
C. The goods offered for sale are largely the same.
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D
D. Firms generate small but positive economic profits in the long run
Correct Answer:
D. D. Firms generate small but positive economic profits in the long run
