Which of the Following Is Not a Reason Perfect Competition

question 529

Multiple Choice

Which of the following is not a reason perfect competition is a useful simplification, despite the diversity of market types we find in the world?

• A)Perfectly competitive markets are the easiest to analyze because everyone participating in the market takes the price as given by market conditions.
• B)Some degree of competition is present in most markets.
• C)There are many buyers and many sellers in all types of markets.
• D)Many of the lessons that we learn by studying supply and demand under perfect competition apply in more complicated markets as well.

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Definitions:

Adult Authority

The power or right of adults, often parents or teachers, to make decisions and enforce rules for children or younger individuals.

Instrumental Aggression

Aggressive behavior used as a means of achieving a goal.

Hostile Attribution Bias

The inclination to perceive the actions of others as being driven by malicious intent, even when those actions are unclear or harmless.

Aggressively

A term describing actions or behaviors carried out with force and determination, often without regard for others.