Which of the Following Features Is Common to Both Perfect

question 59

Multiple Choice

Which of the following features is common to both perfect competition and monopolistic competition?

• A)An individual firm faces a horizontal demand curve.
• B)New firms are free to enter the market in the long-run.
• C)Each firm produces a perfectly homogeneous product.
• D)The firms earn positive economic profit in the long run.

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Definitions:

Gonorrhea

A bacterial infection that is sexually transmitted and can infect the genitals, rectum, and throat.

Bacteria

Microscopic, single-celled organisms that inhabit virtually all environments, including soil, water, organic matter, and the bodies of plants and animals.

Ectopic Pregnancy

A pregnancy in which the fertilized ovum is implanted in any tissue other than the uterine wall. Most ectopic pregnancies occur in the fallopian tubes. Also known as a tubal pregnancy.

Vagina

In females, a flexible, muscular organ that begins between the legs and extends diagonally toward the small of the back. It encompasses the penis during sexual intercourse and is the pathway (birth canal) through which an infant is born.