In Perfect Competition, Which Is Not True

question 84

Multiple Choice

In perfect competition, which is not true?

• A)Every firm has a small but perceivable market power.
• B)There are a large number of firms.
• C)Firms are price-takers.
• D)Firms produce homogenous goods.

---

Definitions:

Sellers

Persons or organizations that provide products or services available for purchase within a marketplace.

Legislate

The act of making or enacting laws; the power or process through which laws are made by a government's legislative body.

True Burden

The actual economic impact of a tax or fiscal policy on individuals or entities, taking into account both direct and indirect effects.