One Assumption of the Perfectly Competitive Model Is Free Entry

question 137

Multiple Choice

One assumption of the perfectly competitive model is free entry and exit. This assumption most directly leads to the implication that:

• A)firms will have to spend money on advertising.
• B)positive economic profit is only possible in the short run.
• C)firms will compete on the basis of better service rather than lower prices.
• D)a long-run equilibrium cannot be achieved.

Understand the worksheet process in a father-son-grandson ownership configuration.

Compute consolidated net income in various ownership scenarios.

Understand the treasury stock approach in accounting for a subsidiary's investment in parent company stock.

Identify conditions under which companies can file consolidated income tax returns.

---

Definitions:

Benzodiazepine Withdrawal

A range of symptoms that can occur when a person reduces or stops taking benzodiazepine drugs after prolonged use, including anxiety, insomnia, and seizures.

Hypotensive Episodes

Periods of abnormally low blood pressure, which can lead to dizziness, fainting, and other health issues.

Renal Failure

A medical condition where the kidneys lose the ability to remove waste and balance fluids in the body.

Incontinence

The lack of voluntary control over urination or defecation, leading to the unintentional loss of urine or feces.