Which of the Following Is False of Perfectly Competitive Firms

question 166

Multiple Choice

Which of the following is false of perfectly competitive firms?

• A) A perfectly competitive market is approximated in highly organized markets for securities and agricultural commodities.
• B) The perfectly competitive model does not require any knowledge on the part of individual buyers and sellers about market demand and supply curves.
• C) Because perfectly competitive firms are price takers, each firm's demand curve remains unchanged even when the market price changes.
• D) In a perfectly competitive market, marginal revenue is constant and equal to the market price.

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