For Perfect Competition to Arise,it Is Necessary That Market Demand

question 57

Multiple Choice

For perfect competition to arise,it is necessary that market demand be

• A)inelastic.
• B)elastic.
• C)perfectly elastic.
• D)large relative to the minimum efficient scale of a single firm.
• E)small relative to the minimum efficient scale of a single firm.

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Definitions:

Distribution

Describes how the values of a variable are spread or distributed across different categories or intervals.

P > .05

Indicates that the probability of obtaining the observed data under the null hypothesis exceeds 5%, typically leading to failing to reject the null hypothesis.

Null Hypothesis

A hypothesis suggesting no significant difference or effect, serving as the default assumption to be tested against the alternative hypothesis.

Region

A specified area or division within a larger context, whether geographical, spatial, or conceptual, identified by certain characteristics or boundaries.