What Is the Main Difference Between a Perfectly Competitive Industry

question 43

Multiple Choice

What is the main difference between a perfectly competitive industry and a monopolistically competitive firm?

• A) the number of firms in the market
• B) product differentiation
• C) zero economic profit
• D) no barriers to entry

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Definitions:

CBT

Cognitive Behavioral Therapy (CBT) is a form of psychotherapy that focuses on identifying and restructuring negative thought patterns that influence behavior and emotions.

Clearness

A state of being free from confusion or ambiguity, often sought in decisions or understanding one’s emotions and thoughts.

Ancillary Treatments

Additional treatments or therapies used in conjunction with the primary method to support or enhance therapeutic outcomes.

DBT

Dialectical Behavior Therapy, a type of cognitive-behavioral therapy aimed at teaching skills to manage emotional distress and improve relationships.