The Price at Which a Perfectly Competitive Firm Sells Its

question 114

Multiple Choice

The price at which a perfectly competitive firm sells its product is determined by

• A)the individual seller based on his costs of production and his profit margin.
• B)all sellers and buyers of the product.
• C)the buyers of the product, because there are so many sellers that they cannot agree on a price.
• D)the government, because there are so many buyers and sellers of the product that together they cannot agree on the price.

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Definitions:

Depolarization

The process during the action potential when a cell's membrane potential becomes less negative, moving towards zero.

Aldosterone

A hormone produced by the adrenal glands that regulates blood pressure by controlling sodium and potassium levels in the body.

Antidiuretic Hormone

A hormone that helps to control the balance of water in the body by reducing the amount of urine made by the kidneys.

ADH

Antidiuretic hormone, a peptide hormone that helps regulate and balance the amount of water in the body by controlling water reabsorption in the kidneys.