Which of the following is NOT an assumption of perfect competition?
Select ONE answer:
- each firm sells an identical product
- many buyers
- many firms
- restricted entry into the industry
Show your workings to arrive at your answer, and explain and justify your reasons:……………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………
This multiple choice question is suitable for Economics KS5 classes.
The answer is 4
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