Which Statement Is True

question 251

Multiple Choice

Which statement is true?

• A)The perfect competitor generally makes a profit in the long run.
• B)There are many firms in a perfectly competitive industry.
• C)A perfect competitor will sell below market price to get a larger market share.
• D)A perfect competitor never makes a profit.

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Definitions:

Reasonable Duration

An amount of time that is fair and appropriate under the circumstances, without being excessively long or unduly short.

Food and Water

Essential nutrients required by humans and animals for survival, including solid sustenance and hydration.

Privilege to Detain

A legal right or authorization given to certain authorities to arrest or hold individuals under specific circumstances.

Harmful Contact

Physical interaction that results in injury or damage to another person, considered to be a form of assault.