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.

---

Definitions:

Procedural Justice

The fairness and transparency of the processes that are used to make decisions and resolve disputes or grievances.

Distributive Justice

The perceived fairness of how rewards and resources are distributed among members of a group or society.

CRM

Stands for Customer Relationship Management; a technology for managing a company's relationships and interactions with current and potential customers.

Inventory Management

The process of ordering, storing, and using a company's inventory, including the management of raw materials, components, and finished products.