Under Perfect Competition There Must Be

question 67

Multiple Choice

Under perfect competition there must be

• A)perfect mobility of resources and perfect knowledge.
• B)neither perfect mobility nor perfect knowledge.
• C)perfect mobility but not perfect knowledge.
• D)perfect knowledge but not perfect mobility.

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Definitions:

Give-And-Take Dialogue

An exchange of ideas or information where parties reciprocally present and discuss their views or demands.

Mutual Understanding

A shared knowledge or agreement between parties that is developed through communication and empathy.

Negotiation Techniques

Strategies employed to reach an agreement between two or more parties with differing interests.

Positions

The specific outcomes or demands that negotiating parties initially put forward as their goals.