An Assumption of the Model of Perfect Competition Is

question 14

Multiple Choice

An assumption of the model of perfect competition is:

• A)identical goods.
• B)difficult entry and exit.
• C)few buyers and sellers.
• D)cooperation and interdependence between sellers.

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Definitions:

Deregulated

The removal or reduction of government restrictions and regulations in an industry to allow for increased competition and efficiency.

Labor-Management Concerns

Issues and challenges faced in the relationship between workers (and their representatives) and employers regarding workplace conditions, rights, and responsibilities.

NLRA

The National Labor Relations Act of 1935, a foundational statute in United States labor law that protects the rights of employees to organize, engage in collective bargaining, and take collective action.

Strategic Roles

Positions or functions within an organization designed to achieve long-term objectives.