Which Statement About Competition Is True

question 154

Multiple Choice

Which statement about competition is true?

• A)To have competition,no firm is large enough to have any influence over price.
• B)American industry is very competitive.
• C)The American automobile industry would be considered competitive if there were at least four firms in the industry.
• D)There is no competition in American industry.

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Definitions:

Perceptual Information

Information processed by the brain that comes from one's senses, influencing perception of the environment.

Inhibited

A psychological or behavioral state where a person is restrained in their actions or reactions.

Temperament

An individual's inherent personality traits, particularly those relating to their emotional responses and intensity.

Inhibited

The state of being held back or restrained, often referring to behavior or emotional expression that is restricted by psychological factors.