The Perfectly Competitive Model Assumes All of the Following EXCEPT

question 237

Multiple Choice

The perfectly competitive model assumes all of the following EXCEPT:

• A) a great number of buyers.
• B) easy entry to and exit from the market.
• C) a standardized product.
• D) that firms attempt to maximize their total revenue.

---

Definitions:

Feng Shui

An ancient Chinese practice involving the arranging of living spaces or environments to create harmony and balance with the natural world.

State of Mind

The particular mental or emotional condition that someone is in at a specific time.

Maximize Profit

A strategy focusing on increasing the difference between the revenue generated and the costs incurred by a business.

Across Cultures Competency

The proficiency in understanding, interacting, and effectively communicating with people of different cultural origins.