In Perfect Competition

question 159

Multiple Choice

In perfect competition

• A) each firm can influence the price of the good.
• B) there are few buyers.
• C) there are significant restrictions on entry.
• D) all firms in the market sell their product at the same price.

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Definitions:

Land

Real estate or property, minus buildings and equipment, that is considered a fixed asset on a company's balance sheet.

Retained Earnings

The portion of a company's profits that is kept or retained rather than distributed to shareholders or used to pay dividends.

Net Income

The total earnings of a company after subtracting all expenses, including taxes and operating costs.

Dividend

A part of a company's profits paid out to its shareholders, often as cash or extra shares.