In Perfect Competition,which Is NOT True

question 108

Multiple Choice

In perfect competition,which is NOT true?

• A) Every firm has a small but perceivable market power.
• B) There are a large number of firms.
• C) Firms are price-takers.
• D) Firms produce homogenous goods.

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Definitions:

Technological

Relating to or involving technology, especially in regard to its development, implementation, and impact on society.

Informed Judgment Forecasts

Predictions about future events, trends, or behaviors made by experts using their knowledge and experience.

Generally Unreliable

Characterizes information or sources that often fail to provide accurate or dependable results or outcomes.

Fast And Inexpensive

Describes a process, solution, or service that requires minimal time and financial investment to accomplish or acquire.