Which of the Following Is a Requirement for a Perfectly

question 68

Multiple Choice

Which of the following is a requirement for a perfectly competitive market?

• A) Buyers and sellers are price takers.
• B) There are barriers to entry.
• C) There are indivisible setup costs.
• D) Sellers maximize sales.

---

Definitions:

Lien

A legal right or claim against a property as security for the payment of a debt or obligation.

National Labor Relations Act

A foundational statute in United States labor law that protects the rights of employees to organize and to bargain collectively with their employers.

Private-Sector Employees

Individuals who work for businesses or organizations that are not part of the government.

Immigration Reform and Control Act

A U.S. federal law enacted in 1986 aimed at addressing illegal immigration, including provisions for sanctions against employers who hire illegal immigrants and legalizing certain immigrants.