Competitive Firms Cannot Individually Affect Market Price Because

question 15

Multiple Choice

Competitive firms cannot individually affect market price because

• A)There is an infinite demand for their goods.
• B)Demand is perfectly inelastic for their goods.
• C)Their individual production is insignificant relative to the production of the industry.

---

Definitions:

Hulu

A streaming service that offers a wide range of TV shows, movies, and original content across various devices.

Marketing Mix

The blend of product, price, place (distribution), and promotion strategies used by a business to market its products or services effectively.

Amazon

A US-based global tech firm mainly concentrating on online retail, cloud services, digital content distribution, and AI.

U.S. Postal Service

The U.S. Postal Service is a federal agency responsible for providing postal delivery in the United States, offering services such as mail delivery, package shipping, and postage sales.