In Part,perfect Competition Arises If

question 189

Multiple Choice

In part,perfect competition arises if
i.each firm's minimum efficient scale is large relative to demand.
ii.each firm produces a good or service identical to those produced by its many competitors.
iii.there are significant barriers to entry.

• A) i only
• B) ii only
• C) i and ii
• D) iii only
• E) ii and iii

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Definitions:

Circadian Rhythm

The inherent, internal procedure that governs the cycle of wakefulness and sleep, repeating around every 24 hours.

Dual Processing

The principle that our mind operates on two levels: a conscious, deliberate level and an unconscious, automatic level, affecting thinking and behavior.

Inattentional Blindness

A psychological phenomenon where an individual fails to perceive an unexpected stimulus in plain sight due to their focus on a different task or aspect of their environment.

Change Blindness

A phenomenon where an observer does not notice a significant change in a visual scene, indicating limitations in attention and perception.