Post Utme Crawford University 2023 Economics Question 11

Practice objective / multiple choice question 11 from the 2023 Post Utme Crawford University Economics examination.

Post Utme Crawford University 2023 Economics Objective / Multiple Choice
Question 11 POST_UTME_CRAWFORD_UNIVERSITY • 2023 • ECONOMICS • objective

A perfectly competitive market has the following characteristics: (i) A large number of firms producing a homogeneous product, (ii) Free entry and exit, (iii) Perfect knowledge of market conditions, and (iv) No \single firm can influence the market price. Which of the following is NOT a characteristic of a perfectly competitive market?

Answer Options

Correct Answer A. Firms have complete control over the market price
B. Firms can influence the market price
C. Firms have complete knowledge of market conditions
D. Firms can exit the market freely
Correct Answer
A
Correct Option:
Firms have complete control over the market price

About This Question

This is Post Utme Crawford University 2023 Economics Question 11. It is one of the objective questions from the 2023 Post Utme Crawford University Economics examination.

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