In Perfect Competition,which of the Following Conditions Must Prevail

question 26

Multiple Choice

In perfect competition,which of the following conditions must prevail?

• A) All firms must adhere to cost and pricing standards.
• B) The number of firms in the industry must be limited.
• C) A single firm is able to influence the price of its product.
• D) It is relatively difficult to enter the industry.
• E) All firms in a given industry must be small.

---

Definitions:

Structural-functional Theory

A viewpoint in sociology that considers society as an intricate system in which its components cooperate to foster unity and steadiness.

Instrumental Role

A function or position assumed by an individual within a social setup focused on achieving practical goals and fulfilling needs.

Expressive Role

The role associated with emotional support, nurturing, and maintaining relationships within a family or social group.

Structural-functionalist

A sociological perspective that views society as a complex system whose parts work together to promote solidarity and stability.