Which of the Following Correctly Explains Why Sellers in a Perfectly

question 87

Multiple Choice

Which of the following correctly explains why sellers in a perfectly competitive market are price takers?

• A) There are few sellers, and so they have the power to take whatever price they want.
• B) There are many sellers, and so the market process generates an equilibrium price that cannot be influenced by any one seller. Thus they have no choice but to take the price generated by the market process.
• C) Sellers in a competitive market have the power to influence price by colluding with one another and using quotas to limit overall market output and thus raise price.
• D) Individual buyers in a competitive market have the power to influence price, and thus can impose prices and other conditions on powerless sellers.

Recognize the bio-social factors influencing aggressive behavior, including the role of neurotransmitters and physical conditions.

Understand the characteristics of highly engaged employees and the benefits they bring to an organization.

Recognize the importance of goal setting and strategies to achieve personal and professional objectives.

Identify needs and motivations that drive employee engagement and performance.

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Definitions:

Social Awareness

The ability to understand and empathize with others' feelings and perspectives within social contexts.

Workplace Politics

Refers to the power dynamics, relationships, and strategic interactions among individuals within a work environment.

Religious Script

Texts considered sacred or central to a particular religion, often containing teachings, doctrines, and rituals pertaining to that faith.

Self-Awareness

Self-awareness is the conscious knowledge of one's own character, feelings, motives, and desires, playing a crucial role in personal development.