Under Perfect Competition

question 167

Multiple Choice

Under perfect competition

• A)many firms produce differentiated products.
• B)prices are determined by the market and there are no price makers.
• C)a few firms have an influence over price.
• D)None of the choices are correct under perfect competition.

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Definitions:

Continued Performance

The ongoing act of demonstrating or executing skills, abilities, or competencies in a specific area over time.

Judith Butler

An American philosopher and gender theorist who has significantly contributed to the fields of feminism, queer theory, political philosophy, and ethics.

Gender

Social and cultural distinctions and roles associated with being male, female, or a different gender, going beyond mere biological or physiological differences.

Prosumption Theory

A concept in consumer studies that blurs the distinction between production and consumption, indicating that consumers increasingly participate in the production of the goods or services they consume.