Which of the Following Statements Is TRUE? I

question 24

Multiple Choice

Which of the following statements is TRUE? I. A free market minimizes the total costs of producing output. II. In a free marke III. Every firm faces the same price in a competitive market.

• A) I and II only
• B) III only
• C) I and III only
• D) I, II, and III

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Definitions:

Selection

The process of choosing from among alternatives based on certain criteria, often used in contexts like recruitment or information processing.

Similar-To-Me Effect

The tendency of individuals to favor or rate more positively those who are perceived to be similar to themselves in some manner.

Attribute

A quality, feature, or inherent part of someone or something that defines or contributes to its nature or character.

Selection Fairness

The equitable and unbiased process of choosing among candidates or alternatives in various contexts including recruitment.