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.

---

Definitions:

Robert Merton

An influential American sociologist known for his theories on social structure, anomie, and for coining terms like "self-fulfilling prophecy."

Subordinate

A term used to describe a lower rank or position, often in a hierarchical structure where authority or power is unequally distributed.

Feminists

Feminists are individuals who advocate for women's rights on the ground of the equality of the sexes, challenging societal norms and inequalities.

Structures Of Power

The organized and systematic arrangements in society that control resources and determine how power, influence, and authority are distributed and exercised.