Which Following Statement Does NOT Apply to a Perfectly Competitive

question 39

Multiple Choice

Which following statement does NOT apply to a perfectly competitive market?

• A) Consumers prefer certain brands over others.
• B) Consumers can shop for the lowest available price.
• C) All firms in the industry are price takers.
• D) There is freedom of entry and exit of firms in the industry.
• E) All firms have realized the possible economies of scale.

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Definitions:

Feeding Tube

A medical device used to provide nutrition to patients who cannot obtain nutrition by mouth, are unable to swallow safely, or need nutritional supplementation.

Resuscitation

The act of reviving someone from unconsciousness or apparent death through measures such as artificial respiration or chest compressions.

Assistive Personnel

Workers who provide support services in healthcare settings, assisting with tasks to help care for clients or patients, often under the supervision of a licensed professional.

Safe Environment

A setting or conditions that minimize risk of harm or danger to individuals, emphasizing health, security, and well-being.