Chemical Engineering Mcqs

Submitted By: Ali Uppal

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  • What refers to the market situation in which any given product is supplied by a very large number of vendors and there is no restriction against additional vendors from entering the market ?
  • What is another term for “perfect competition” ?
  • Duopoly is a market situation where there is/are____________?
  • What is the opposite of perfect competition ?
  • Aside from many sellers and many buyers, which one is a characteristic of perfect competition ?

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