Post Utme Elizade University 2017 Economics Question 6
Practice objective / multiple choice question 6 from the 2017 Post Utme Elizade University Economics examination.
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) Price determined by the intersection of demand and supply curves. Which of the following is NOT a characteristic of a perfectly competitive market?
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About This Question
This is Post Utme Elizade University 2017 Economics Question 6. It is one of the objective questions from the 2017 Post Utme Elizade University Economics examination.
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