Which of the Following Is a Characteristic of a Perfectly

question 28

Multiple Choice

Which of the following is a characteristic of a perfectly competitive industry?

• A)A perfectly competitive industry has a large number of small firms.
• B)Each firm in a perfectly competitive industry has a degree of market power.
• C)There are moderate barriers to entry in a perfectly competitive industry.
• D)Each firm in a competitive industry earns positive economic profits in the long run.
• E)Firms in a perfectly competitive industry practice product differentiation.

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Definitions:

Dehydrogenated

Describes a chemical reaction in which hydrogen is removed from a molecule, often leading to the formation of double bonds or the introduction of oxygen atoms.

Stereochemical Designator

Notations used to describe the spatial arrangement of atoms around a stereocenter or double bond in a molecule, such as (R)/(S) or (E)/(Z) configurations.

Methylbutene Structures

Refers to the structural variations of the hydrocarbon molecule butene, with one or more methyl groups attached to its chain.

Hydrogenation

The chemical reaction between molecular hydrogen (H2) and another compound or element, typically in the presence of a catalyst, resulting in the addition of hydrogen.