Post Utme Aaua 2018 Economics Question 18

Practice objective / multiple choice question 18 from the 2018 Post Utme Aaua Economics examination.

Post Utme Aaua 2018 Economics Objective / Multiple Choice

Question 18 POST_UTME_AAUA • 2018 • ECONOMICS • objective

A perfectly competitive market is characterized by a large number of firms producing a homogeneous product. Which of the following is a characteristic of a perfectly competitive market?

A. A \single firm produces the entire output of the market.

Correct Answer B. A large number of firms produce a homogeneous product.

C. Firms have complete control over the market price.

D. Firms produce a differentiated product.

Correct Answer

Correct Option:

A large number of firms produce a homogeneous product.

This is Post Utme Aaua 2018 Economics Question 18. It is one of the objective questions from the 2018 Post Utme Aaua Economics examination.

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