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.

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Definitions:

Mindfulness Stress Reduction

A program that utilizes mindfulness meditation techniques to help individuals decrease stress and improve overall well-being.

Progressive Muscle Relaxation

A technique used for reducing stress and anxiety by tensing and then relaxing each muscle group in the body sequentially.

Ego-Defense Mechanism

Psychological strategies used unconsciously by individuals to protect themselves from anxiety and to manage emotional conflict.

Conversion

The act of changing something into a different form or state, often used in contexts like energy conversion or data format conversion.