Which of the Following Statements Is False

question 9

Multiple Choice

Which of the following statements is false?

• A)The perfectly competitive firm's demand curve is horizontal at the market price.
• B)The theory of perfect competition is completely and accurately descriptive of most real-world firms.
• C)If Firm X does not strictly meet all the assumptions of the theory of perfect competition, but behaves as if it does, then the theory of perfect competition is relevant to it.
• D)In perfect competition, the market price is established at the intersection of the market demand and market supply curves.

---

Definitions:

Ethnic Issues

Challenges and matters related to the cultural, racial, or national identity of groups of people, often involving discrimination and social disparities.

Rorschach Inkblot Technique

A projective psychological test consisting of ten inkblots presented to the participant, used to analyze personality characteristics and emotional functioning.

Validity Research

The process of testing the accuracy and relevancy of a measurement tool or test in predicting or measuring what it is intended to.

MMPI

The Minnesota Multiphasic Personality Inventory (MMPI) is a standardized psychometric test of adult personality and psychopathology used to diagnose mental disorders.