The Reason Perfect Competition Cannot Generate New Ideas Is That

question 99

Multiple Choice

The reason perfect competition cannot generate new ideas is that:

• A) profits are positive.
• B) perfectly competitive firms have no ideas.
• C) profits are zero.
• D) firms are too small to generate ideas.
• E) revenues are positive.

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Definitions:

Poverty

A socio-economic condition characterized by the lack of basic resources and opportunities necessary for a standard living.

Environmental Degradation

The deterioration of the environment through depletion of resources, destruction of ecosystems, and extinction of wildlife.

Agricultural Runoff

Water from rain or irrigation that carries fertilizers, pesticides, and other substances from agricultural fields into nearby water bodies, potentially causing pollution.

Oxygen Depletion

A condition where oxygen levels in an environment, especially aquatic systems, significantly decrease due to factors like overpopulation of organisms or excess nutrients.