ACTUAL WGU C211 OA Global Economics Exam Latest QUESTONS, ANSWERS AND EXPLANATIONS (2024 / 2025) (Verified Answers)
ACTUAL WGU C211 OA Global Economics Exam Latest QUESTONS, ANSWERS AND EXPLANATIONS (2024 / 2025) (Verified Answers) 1. Which of the following is NOT a characteristic of a perfectly competitive market? A) Many buyers and sellers B) Homogeneous (identical) products C) Barriers to entry D) Perfect information Answer: C) Barriers to entry Explanation: In a perfectly competitive market, there are no barriers to entry. This means that new firms can enter the market freely, leading to many buyers and sellers, homogeneous products, and perfect information.
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