Which of the Following Is an Assumption in the Model

question 41

Multiple Choice

Which of the following is an assumption in the model of perfect competition?

• A)The firms in a competitive industry produce a homogeneous product.
• B)The firms in a competitive industry actively compete with each other by advertising.
• C)There are no natural impediments to entry in a competitive industry,but there may be artificial impediments such as licensing.
• D)The firms in a competitive industry have a decreasing short-run marginal cost curve.

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Definitions:

Caffeinated Beverages

Drinks that contain caffeine, a stimulant that can boost alertness and energy levels.

Regaining Energy

The process of restoring one's vitality and strength through rest, nutrition, exercise, or other rejuvenating activities.

Naps

Short periods of sleep, usually taken during the day, to refresh or rejuvenate one's energy levels.

Disliking Assignment

A negative feeling or attitude toward a specific task or homework given by an instructor.