Which of the Following Statements Is True

question 182

Multiple Choice

Which of the following statements is true?

• A)Perfect competition is an unattainable standard that is probably impossible to find.
• B)Very few business firms have any control over price in perfect competition.
• C)The determination whether two products are identical is done by the sellers.
• D)Perfect competitors are price makers.

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Definitions:

Personality Tests

Assessments used to measure individuals' character traits, behaviors, and tendencies, often used in employment and psychological contexts.

Disposition

The inherent qualities of mind and character that influence an individual's behavior.

Managerial

Pertaining to the activities, responsibilities, and skills involved in managing an organization or its parts.

Technical People

Individuals who possess specific technical skills and expertise, particularly in fields like engineering, IT, and sciences.