Under Perfect Competition

question 74

Multiple Choice

Under perfect competition

• A)information about prices is hard to obtain.
• B)there is a maximum number of firms that can enter the market.
• C)if a firm exits the market, price will rise.
• D)transaction costs are low.

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Definitions:

Agoraphobia

An anxiety disorder characterized by intense fear and avoidance of open or public places where escape might be difficult or help may not be available, often leading to limitations in daily activities.

Agoraphobia

A type of anxiety disorder characterized by an intense fear of being in situations where escape might be difficult or help wouldn't be available if things go wrong.

Acrophobia

Fear of heights.

Window Washer

An individual employed to clean the windows of buildings, often using specific tools and safety equipment to work on high-rise structures.