In Part, Perfect Competition Arises If I

question 65

Multiple Choice

In part, perfect competition arises if i. each firm's minimum efficient scale is large relative to demand.
Ii. each firm produces a good or service identical to those produced by its many competitors.
Iii. there are significant barriers to entry.

• A)i only
• B)ii only
• C)i and ii
• D)iii only
• E)ii and iii

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Definitions:

Performance-Outcome Contingencies

The relationship between the performance of specific actions and the resulting outcomes, emphasizing the role of rewards or consequences.

Expectancies

Beliefs about the likelihood of a particular outcome as a result of one's actions or behaviors.

Process Theories of Motivation

Theories that focus on the psychological and behavioral processes influencing individuals’ motivation, including how they make decisions about their behavior in relation to their goals.

Expectancy Theory

A motivational theory suggesting that individuals are motivated to act in certain ways based on the expectation that their actions will lead to desired outcomes.