Which of the Following Is True Under Perfect Competition

question 1

Multiple Choice

Which of the following is true under perfect competition?

• A) Profits are always positive.
• B) P > MC.
• C) P = MR.
• D) All of the choices are true for perfect competition.

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Definitions:

Deregulation

The reduction or elimination of government power in a particular industry, usually with the goal of increasing competition and innovation within that market.

Antisocial Gross-Out Humor

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Physical Flexibility

The ability of the body’s joints and muscles to move through their full range of motion without pain or stiffness.

In Living Color

A groundbreaking American sketch comedy television series that aired in the early 1990s, known for its diverse cast and culturally relevant themes.