What Is the Characteristic of a Perfectly Competitive Firm That

question 14

Multiple Choice

What is the characteristic of a perfectly competitive firm that causes it to be a price taker?

• A) many buyers and sellers
• B) homogeneous product
• C) free entry and exit
• D) Both A and B are correct.

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Definitions:

Preceding Explanation

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Bad-News Messages

Communications designed to convey information that might be disappointing, unwelcome, or unfavorable to the receiver, handled with care to mitigate negative reactions.

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Preliminary Explanation

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