The Market Structure of Perfect Competition Exists When

question 146

Multiple Choice

The market structure of perfect competition exists when

• A) there are a small number of interdependent firms that constitute the entire market.
• B) there is a single producer of a product.
• C) there are many producers of differentiated products.
• D) there are many producers of a homogeneous product.

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Definitions:

Mainland

The principal landmass of a country or continent; as opposed to islands or peninsulas.

Arithmetically

Relating to or based on arithmetic, the branch of mathematics dealing with the properties and manipulation of numbers.

Thomas Malthus

An English economist and demographer known for his theory that population growth will always tend to outrun the food supply.

Food Supplies

The availability and distribution of edible goods and commodities to meet the consumption needs of the population.