Price Is Constant to the Individual Firm Selling in a Purely

question 165

Multiple Choice

Price is constant to the individual firm selling in a purely competitive market because

• A)the firm's demand curve is downsloping.
• B)of product differentiation reinforced by extensive advertising.
• C)each seller supplies a negligible fraction of total supply.
• D)marginal costs are constant.

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Definitions:

Radical Behaviorist

A philosophical stance within the field of behaviorism that emphasizes the external behaviors of people and rejects internal processes such as thoughts and emotions as relevant for understanding behavior.

Mental Processes

Internal cognitive activities that include thinking, perceiving, problem-solving, and information processing.

Radical Behaviorism

A philosophy of behavior analysis that emphasizes the study of observable behavior along with environmental and physiological influences.

Stimuli

External or internal events or occurrences that elicit responses from an organism or a system.