Which of the Following Is a Characteristic of Markets with Perfect

question 3

Multiple Choice

Which of the following is a characteristic of markets with perfect competition?

• A)They are markets with one highly dominant firm.
• B)Attempts to use price strategically are not effective in these markets.
• C)Dropping price increases total margin by more than it increases sales.
• D)The firms in these markets are price setters.

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Definitions:

European Ancestry

Individuals or populations tracing their descent or lineage back to the various countries and ethnic groups in Europe.

Republic Founding

Refers to the establishment of a country that is governed by elected representatives and an elected leader rather than a monarch.

Non-Native American

A term used to describe individuals who are not of Native American heritage.

Native Americans

Indigenous peoples of the Americas, whose ancestors have lived on the continent since long before European explorers and settlers arrived.