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Question #47452

Which of the following is not a characteristic of a competitive market ?

Options:

A) All of these answers are characteristic of a competitive market

B) The are many buyers and sellers in the market

C) The goods offered for sale are largely the same.

D) Firms generate small but positive economic profits in the long run

E) E. Firms can freely enter or exit the market

Answer: Which of the following is not a characteristic of a competitive market Firms generate small but positive economic profits in the long run.

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