Which Statement Is NOT an Assumption That Economists Make When

question 86

Multiple Choice

Which statement is NOT an assumption that economists make when using the model of perfect competition?

• A)Firms seek to maximize profits.
• B)The products of each firm in a particular market are identical.
• C)Each firm sets its price equal to its average total cost.
• D)Entry into and exit from the industry are easy.

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Definitions:

Sexual

Relating to or associated with sex, mating, or the distinction between biological categories frequently based on reproductive functions.

Pleasure-giving Urge

An innate desire to seek activities or experiences that bring about a sense of enjoyment or satisfaction.

Psychosexual Stages

A theory in Freudian psychology that proposes five stages of childhood development, each characterized by sexual pleasure centered on a particular erogenous zone.

Developmental Periods

Distinct phases during the lifespan of an organism, marked by specific physical, psychological, or emotional attributes that are associated with a particular age range.