Business

Mccullough

20 May, 08:10

Which of the following scenarios BEST describes perfect competition?

A.

The industry is dominated by one producer.

B.

Many sellers offer similar but not identical products.

C.

Many small sellers offer identical products.

D.

There are only a few large sellers/suppliers of a product or service.

E.

There is only one seller/supplier of a product.

+5

Answers (1)

Know the Answer?

Not Sure About the Answer?

Find an answer to your question ✅ “Which of the following scenarios BEST describes perfect competition? A. The industry is dominated by one producer. B. Many sellers offer ...” in 📘 Business if you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.

Search for Other Answers

You Might be Interested in

True or false: without government regulation, natural monopolies can earn positive profit in the short run.

A back of the house staff performs the task of planning a menu. true or false

Fixed Costs, or overhead, are expenses that are the same no matter how much product you sell. Identify the fixed costs for your cafe, estimate the monthly amount for each, and calculate the monthly total.

Appleville is a village that specializes in all forms of apple products. Suppose that each winter, when no apples are being produced, the aggregate output falls below the long-run output level.

Why does Jeremy earn more money than rose?

New Questions in Business

The following requirements are interdependent. For example, the $252,000 desired profit introduced in Requirement c also applies to subsequent requirements.

Regan grows flowers and makes ceramic vases. Jayson also grows flowers and makes ceramic vases. Regan can produce 3 times as many vases in a day as Jayson, and Regan can grow twice as many flowers in a month as Jayson.

Danny "Dimes" Donahue is a neighborhood's 9-year-old entrepreneur. His most recent venture is selling homemade brownies that he bakes himself. At a price of $1.50 each, he sells 100. At a price of $1 each, he sells 300. a.

Starting last December, one of the three major credit-score trackers, Experian, added paying monthly rent as one of its criteria for calculating a credit score.

Odell's Furniture has a manufacturing facility in Rigby, Idaho that has an effective capacity of 106 furniture pieces per day and produces 88 furniture pieces per day. What is the facility's efficiency rate? a. Write your answer as a percentage. b.