Because There Are Many Firms with Similar Products in Purely

question 34

Multiple Choice

Because there are many firms with similar products in purely competitive markets,

• A) price is determined by the laws of supply and demand.
• B) consumers develop personal preferences.
• C) firms find it easy to build strong, distinct brands.
• D) advertising is heavily used.
• E) the many competitors will focus on variable cost pricing.

---

Definitions:

Measurably Happier

A state in which an individual's happiness or well-being can be quantitatively assessed or increased.

Hypertension

A medical condition characterized by persistently high blood pressure, which can lead to serious health issues such as heart disease and stroke.

Immune System

The body's defense mechanism made up of organs, tissues, cells, and proteins that work together to fight off pathogens, such as bacteria, viruses, and foreign bodies.

Job Strain

A work-related condition characterized by high demands and low control, leading to stress and potential health problems.