One of the Assumptions of Perfect Competition Is That

question 43

Multiple Choice

One of the assumptions of perfect competition is that:

• A) each ?rm in the market has some, but not complete, control over the price of its product.
• B) there are no barriers to entry or exit in the market.
• C) there are many producers producing different products.
• D) ?rms in the market advertise in order to shift the demand curve for their product.

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Definitions:

Mutual Exclusivity Assumption

A concept in language acquisition where young children assume that objects only have one label.

Infant-Directed Speech

A special, modified way of speaking adults use when talking to babies, characterized by higher pitch, slower rate, and exaggerated intonation, thought to aid language learning.

Pragmatics

The aspect of language involving the practical use of speech and communication in context, including tone, social cues, and conversation skills.

Contrast Assumption

The idea that people make judgments about an event or situation by comparing it to something else, rather than evaluating it in isolation.