If an Industry Has 100,000 Firms Producing an Identical Service,this

question 109

Multiple Choice

If an industry has 100,000 firms producing an identical service,this industry would

• A)probably not be considered perfect competition.
• B)definitely not be considered perfect competition.
• C)probably be considered perfect competition.
• D)definitely be considered perfect competition.

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Definitions:

Legitimate Power

Authority or power derived from a position, role, or legal standing, which is recognized and accepted by others.

Coercive Power

A form of power that is based on the ability to deliver punishments or impose penalties.

Reward Power

The capacity to offer something desirable to influence another’s behavior or decisions.

Charity Organization Society

A nineteenth-century philanthropic movement aimed at providing aid to the poor through coordinated services and promoting self-help among aid recipients.