In Perfect Competition,which Is NOT True

question 98

Multiple Choice

In perfect competition,which is NOT true?

• A) Both concentration ratios and Rothschild indexes tend to be close to zero.
• B) There are a large number of firms, and each is small relative to the entire market.
• C) At least one firm has a perceptible impact on the market price.
• D) Firms produce homogenous goods.

---

Definitions:

Economic Report

A document or presentation that provides analysis and information on the economic performance of an economy, sector, or market.

Positive Economics

A branch of economics that focuses on describing and explaining economic phenomena as they are.

Normative Economics

A branch of economics that expresses value judgments about economic fairness or what the economy ought to be like.

Microeconomics

Microeconomics analyzes individual decision makers and markets, focusing on supply and demand, price, and output decisions in individual markets.