Which of the Following Is a Characteristic of a Competitive

question 179

Multiple Choice

Which of the following is a characteristic of a competitive price-taker market?

• A) Profit maximizing firms in the market will expand output until price equals average variable cost.
• B) The market demand curve for the product is a horizontal line.
• C) There are many firms in the market, each producing a small share of total market output.
• D) The product produced by each of the firms is differentiated.

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Definitions:

Single-Food Diet

A dietary regimen that involves consuming only one type of food for a certain period of time, which is nutritionally unbalanced and not recommended.

Nutritionally Balanced

A diet comprising the correct proportions of all the necessary nutrients required for healthy body functioning.

Ideal Weight

A weight range deemed optimal for an individual's health, taking into account factors such as age, sex, and height.

Regular Exercise

Engaging in physical activity on a consistent basis to improve or maintain one's health and fitness.