In Perfect Competition,_____ Are _____,And _____ Are Price Takers

question 62

Multiple Choice

In perfect competition,_____ are _____,and _____ are price takers.

• A)all goods;standardized;all market participants
• B)some goods;standardized;consumers but not producers
• C)all goods;differentiated;producers but not consumers
• D)some goods;differentiated;consumers but not producers

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Definitions:

Elites

Are small groups that control the command posts of major institutions.

Top Positions

The highest or most senior roles or job titles within an organization or field.

Military

The armed forces of a country, responsible for defending it against external threats and ensuring internal security.

Political Involvement

Refers to the participation of individuals or groups in the political process, including voting, activism, or holding public office.