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:

Trichromatic Theory

A theory of color vision that suggests the human eye has three types of receptors with differing sensitivities to different light wavelengths, typically referred to as blue, green, and red receptors.

Receptors

Specialized cells or proteins in the body that bind to specific molecules, triggering a response.

Genetic Causes

Refers to health conditions or physical traits that are influenced or determined by an individual's genes.

Color Deficiencies

Impaired ability to see colors and differentiate between certain shades, commonly known as color blindness.