In the market for strawberries, individual firms face no barriers to entry, sell a homogeneous product, and have no control over the market price. This market is best described as a (1 point) monopolistically competitive market monopoly O oligopoly O perfectly competitive market Which of the following is a barrier to entry that might be faced by a firm? (1 point) shortage low input prices licensing requirements O a high market equilibrium price The demand curve faced by firms in a perfectly competitive market is horizontal to reflect the fact that (1 point) individual firms offer a homogeneous product individual firms are unable to influence the market price individual firms offer a differentiated product In an effort to gain more consumers, a fast food restaurant decides to hire only the most efficient workers to reduce the production time of orders. What type of competition strategy is this fast food restaurant engaging in? (1 point) marketing nonprice competition price competition advertising Selling a product at a lower price than a similar product sold by another firm is an example of which of the following? (1 point) price competition nonprice competition marketing O advertising