Which of the Following Is False of Perfectly Competitive Firms

question 92

Multiple Choice

Which of the following is false of perfectly competitive firms?

• A)A perfectly competitive market is approximated most closely in highly organized markets for securities and agricultural commodities.
• B)The perfectly competitive model does not require any knowledge on the part of individual buyers and sellers about market demand and supply curves.
• C)Because perfectly competitive firms are price takers, each firm's demand curve remains unchanged even when the market price changes.
• D)In a perfectly competitive market, marginal revenue is constant and equal to the market price.

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Definitions:

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A lubricant used in a power steering system. Modern vehicles often need specific proprietary fluids.

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A belt that connects the engine's power to the power steering pump, enabling easier steering by amplifying the driver's input force.

Airbag System Component

Parts of an airbag system in a vehicle designed to inflate rapidly during a collision to prevent occupants from striking the vehicle interior or being thrown from the car, enhancing passenger safety.

SRS System

Supplemental Restraint System, an automotive safety feature incorporating airbags and other components to protect passengers during a collision.