Which of the Following Is One of the Necessary Conditions

question 40

Multiple Choice

Which of the following is one of the necessary conditions for perfect competition?

• A) Diminishing utility
• B) No barriers to entry
• C) Differentiated products
• D) Indivisible setup costs

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Definitions:

Theoretical Yield

The maximum amount of product that can be generated from a given amount of reactants in a chemical reaction, under ideal conditions.

Limiting Reactant

The reactant in a chemical reaction that limits the amount of product that can be formed; the reaction stops when all of this reactant is consumed.

Cu

The chemical symbol for copper, a red-orange metal known for its high thermal and electrical conductivity.

HCl

Hydrochloric acid, a diatomic molecule, consisting of a hydrogen atom and a chlorine atom connected by a polar covalent bond.