In a Perfectly Competitive Market with 100 Identical Firms Producing

question 65

Multiple Choice

In a perfectly competitive market with 100 identical firms producing at market price p1

• A)the supply curve is flatter than if there were only 50 identical firms.
• B)the supply curve is more elastic than if there were only 50 identical firms.
• C)the firms have identical marginal costs.
• D)All of the above.

---

Definitions:

Genes

Genes are units of heredity made up of DNA, responsible for guiding the process of creating proteins that in turn, dictate cell function.

Differentiation

Development toward a more mature state; a process changing a young, relatively unspecialized cell to a more specialized cell. Also called cell differentiation.

Gene Activity

The process by which a gene's information is used to synthesize functional gene products, like proteins, influencing the cell's functions.

Determination

In developmental biology, determination is the process by which cells become committed to a specific cell fate.