Which of the Following Will Not Be True of a Perfectly

question 7

Multiple Choice

Which of the following will not be true of a perfectly competitive market?

• A)Each individual buyer or seller has an imperceptible effect on the market price.
• B)A new firm may incur a cost upon entering a market but has access to the same technology and inputs as established firms.
• C)Different consumers may pay different prices for the same product.
• D)Buyers and sellers take the market price as given when making purchasing or production decisions.

---

Definitions:

Noncontributory Programs

Social welfare programs that provide benefits to eligible individuals without requiring contributions from them, typically funded by general tax revenues.

Disparities

Inequities or differences, often unfair, observed between different groups of people.

Grants-In-Aid

Financial assistance provided by the federal government to state or local governments for specific projects or programs.

Deregulation

The process of removing or reducing government regulations from specific industries or sectors, often intended to increase efficiency and promote competition.