Post Utme Esut 2023 Economics Question 6

Practice objective / multiple choice question 6 from the 2023 Post Utme Esut Economics examination.

Post Utme Esut 2023 Economics Objective / Multiple Choice
Question 6 POST_UTME_ESUT • 2023 • ECONOMICS • objective

A perfectly competitive market has many firms producing a homogeneous product. Which of the following is a characteristic of a perfectly competitive market?

Answer Options

A. Firms have complete control over the market price.
B. Firms produce a homogeneous product.
Correct Answer C. Firms have access to the same information.
D. Firms produce a differentiated product.
Correct Answer
C
Correct Option:
Firms have access to the same information.

About This Question

This is Post Utme Esut 2023 Economics Question 6. It is one of the objective questions from the 2023 Post Utme Esut Economics examination.

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