Which of the Following Is NOT an Assumption of the Model

question 57

Multiple Choice

Which of the following is NOT an assumption of the model of monopolistic competition model?

• A) there is freedom of exit and entry into the industry
• B) many small firms
• C) each firm produces a product which is identical to that of its competitors
• D) each firm is independent in its decision making

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Definitions:

Latent Functions

Purposes and activities that are unintended, unrecognized, and not immediately obvious.

Manifest Functions

Purposes and activities that are intended, recognized, and clearly evident.

Expressive Functions

The social and emotional roles that contribute to the cohesion and emotional well-being of a family or group, serving to nurture and maintain interpersonal bonds.

Instrumental Functions

refers to specific roles or tasks within a system or society that are aimed at achieving goals or meeting needs, often practical or resource-related in nature.