In a Perfectly Competitive Resource Market

question 63

Multiple Choice

In a perfectly competitive resource market:

• A)resource suppliers are price-makers
• B)producers set the resource's price
• C)there are many producers demanding the resource but only a few resource suppliers
• D)producers have no effect on the prevailing price of the resource
• E)there are many resource suppliers but only a few businesses demanding the resource

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Definitions:

Adult-Like Proportions

A description of the physical development stage where the body dimensions resemble those of an adult.

Head Start

A program in the United States that provides comprehensive early childhood education, health, nutrition, and parent involvement services to low-income children and their families.

War on Poverty

refers to a set of programs introduced in the 1960s by President Lyndon B. Johnson aiming to reduce poverty in the United States.

Public Broadcasting System

A non-profit television network in the United States that provides educational, cultural, and news-related content to the public.