Post Utme Bells University 2025 Economics Question 16

Practice objective / multiple choice question 16 from the 2025 Post Utme Bells University Economics examination.

Post Utme Bells University 2025 Economics Objective / Multiple Choice
Question 16 POST_UTME_BELLS_UNIVERSITY • 2025 • ECONOMICS • objective

A perfectly competitive market has the following characteristics: (i) many firms producing a homogeneous product, (ii) free entry and exit, (iii) perfect knowledge of market conditions, and (iv) price determined by the intersection of demand and supply curves. Which of the following is NOT a characteristic of a perfectly competitive market?

Answer Options

A. Price determined by the intersection of demand and supply curves
B. Free entry and exit
C. Perfect knowledge of market conditions
Correct Answer D. Firms producing differentiated products
Correct Answer
D
Correct Option:
Firms producing differentiated products

About This Question

This is Post Utme Bells University 2025 Economics Question 16. It is one of the objective questions from the 2025 Post Utme Bells University Economics examination.

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