A Firm Operating in a Perfectly Competitive Market Is a Price

question 74

Multiple Choice

A firm operating in a perfectly competitive market is a price taker because:

• A) no firm has a significant market share.
• B) no firm's product is perceived as different.
• C) setting a price higher than the going price results in zero sales.
• D) all of the above.

---

Definitions:

Positive Adjustment

The process of adapting positively to circumstances, challenges, and changes, contributing to mental health and well-being.

Withdrawal

The process or symptoms of ceasing to use an addictive substance, which can include physical and mental health effects.

Aggression

Behavior aimed at causing harm or pain to others, which can be physical, verbal, or non-verbal.

Regression

Regression is a defense mechanism identified in psychoanalytic theory, where an individual retreats to earlier stages of development or simpler forms of behavior in the face of stress or as a means of coping.