Which of the Following Is a Characteristic of Perfect Competition

question 130

Multiple Choice

Which of the following is a characteristic of perfect competition?

• A)While there are many firms,relatively few tend to influence the market price.
• B)The firms that can distinguish its product from its competitors are the ones that usually succeed.
• C)Some barriers to entry into the market exist.
• D)In the buyers mind,the products are identical.

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Definitions:

Correlational

Pertaining to a statistical relationship between two or more variables, indicating how one may predict the other without implying causation.

Overt Behavior

Actions or responses that are observable and measurable by others, as opposed to thoughts or feelings which are internal and subjective.

Daydreaming

A state of mind involving spontaneous and self-generated thoughts and imaginations, disconnected from immediate external tasks.

Clinical Psychology

A branch of psychology concerned with diagnosing and treating mental, emotional, and behavioral disorders.