What Characteristic Is Common to Perfect Competition,monopolistic Competition,and Monopoly

question 25

Multiple Choice

What characteristic is common to perfect competition,monopolistic competition,and monopoly?

• A)free entry and exit
• B)zero economic profit in the long run
• C)firms treat the market price as given
• D)firms maximize profits by producing where MR = MC
• E)small number of buyers relative to the number of sellers

---

Definitions:

Social Action

Efforts taken by individuals or groups to bring about social change or improvements in society.

Rehabilitation

A process aimed at enabling recovery from injury, illness, or dependency, through therapeutic interventions to regain function or well-being.

Formed Group

is a collection of individuals who have been intentionally brought together for a specific purpose or project, distinguished from naturally occurring clusters.

Therapy Group

A gathering of individuals who participate in therapeutic sessions together, often guided by a therapist.