In Perfect Competition,which of the Following Conditions Must Prevail

question 138

Multiple Choice

In perfect competition,which of the following conditions must prevail?

• A) All firms in a given industry must be small.
• B) The number of firms in the industry must be large.
• C) No single firm is powerful enough to influence the price of its product.
• D) All of the above

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Definitions:

Disease Of Adaptation

A concept referring to the adverse health effects that occur as a result of the body's efforts to cope with stress.

Alarm Stage

The first phase in the stress response, in which the body prepares to fight or flee from a perceived threat.

Hardy Personality

A trait characterized by resilience, the ability to cope with stress in a healthy way, and the tendency to view life challenges as opportunities for growth.

General Adaptation Syndrome

An explanation revealing how the body deals with stress over time through a three-stage process: the initial alarm phase, the resistance phase, and finally, the exhaustion phase.