Perfect Competition Arises If the ________ Efficient Scale of a Single

question 270

Multiple Choice

Perfect competition arises if the ________ efficient scale of a single producer is ________ relative to the demand for the good or service.

• A) minimum; small
• B) minimum; large
• C) maximum; small
• D) maximum; large

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Definitions:

Coercive Power

Authority or power that is based on the ability to punish or inflict sanctions on others.

Referent Power

Referent Power is a form of influence based on the charisma or likeability of an individual, leading others to emulate or follow them voluntarily.

Reward Power

The ability to influence others' behavior through the offering of positive incentives or benefits.

Legitimate Power

refers to the authority that an individual or entity has, recognized as rightful by those who are governed or led.