All of the Following Assumptions Apply to Perfect Competition Except

question 78

Multiple Choice

All of the following assumptions apply to perfect competition except:

• A)perfect information.
• B)large numbers.
• C)perfect resource mobility.
• D)product heterogeneity.

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Definitions:

Hot Springs

Natural pools of water heated by geothermal forces from the Earth's interior.

Convergent Boundary

A tectonic plate boundary where two plates move toward one another, often resulting in mountain building, earthquakes, and volcanic activity.

Volcanism

The geological process through which magma and associated gases and ashes are expelled onto the Earth's surface or into the atmosphere.

Sinkholes

Natural depressions or holes in the Earth's surface caused by the removal of soil and bedrock, often due to water erosion.