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Which of the following statements are true of a market place which is considered a 'perfect competition'? Select TWO.
Suggested Answer: A
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This is an example of poor-communication. The information was not passed from the person who signed the contract to the staff on site who were to do the cleaning. See p.158 on communication issues.
32 comments · newest first
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Juliann
11 months ago
Really? I thought there were some barriers in perfect competition.
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Stephania
11 months ago
Wait, D is just plain false! Competition is strong, not weak.
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Jessenia
12 months ago
B is wrong, products are not differentiated in perfect competition.
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Dominic
12 months ago
C is also true, competition is super high in perfect competition.
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Ashley
1 year ago
A is definitely true, no barriers to entry!
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Peggy
1 year ago
D seems wrong to me; I think perfect competition is all about strong competition, so I would rule that one out.
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Angelica
1 year ago
I feel like C could be true since perfect competition implies a high level of competition, but I’m not completely confident.
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Stephaine
1 year ago
I’m not so sure about B because I thought perfect competition meant that products are identical, not differentiated.
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Marylou
1 year ago
I remember that in perfect competition, there are no barriers to entry, so I think A is definitely one of the answers.
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Darci
1 year ago
Hmm, I'm a bit confused. I thought perfect competition meant the suppliers were selling differentiated products, not identical ones. I'll have to double-check my notes on this.
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Rosita
1 year ago
I've got this! Perfect competition means the highest level of competition possible, with many small suppliers selling identical products. So A and C are the true statements here.
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Tamie
1 year ago
Okay, let me think this through. I know perfect competition means there are no barriers to entry, so that's definitely one of the true statements. I'm not sure about the others though - I'll have to think carefully about the differences between perfect and imperfect competition.
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Alishia
1 year ago
This question seems straightforward, but I want to make sure I understand the key characteristics of perfect competition before selecting my answers.
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Victor
1 year ago
Okay, let's see. The load is 60KW and the UPS capacity is 100KVA with a 0.95 power factor. I think I can figure this out.
ME
Melvin
1 year ago
The JWT Bearer Flow sounds like the best option to me. It allows the third-party system to authenticate directly without involving the end-user, which meets the requirements. I feel pretty confident about this one.
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Paulina
1 year ago
Okay, let me think this through. The question is asking about the files GNU make will look for unless a different file is specified on the command line. I'm guessing the correct answers are Makefile and makefile, since those are the standard names for GNU make files.
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Billi
2 years ago
Perfect competition, where the 'competition is not strong'? Sounds more like a monopoly to me. A and C are the way to go.
AR
Aretha
1 year ago
Yeah, perfect competition is the opposite of a monopoly. A and C are definitely the right choices.
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Dorothea
1 year ago
I agree, in perfect competition, there are no barriers to entry and all products are identical. So A and C make sense.
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Sarina
1 year ago
I think A and C are correct. Perfect competition is all about many buyers and sellers with no single entity having control over the market.
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Kenneth
2 years ago
Haha, 'competition is not strong'? That's the complete opposite of perfect competition! I'm going with A and C for sure.
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Rolland
1 year ago
User 2: I agree, and I think C is true too because competition is at its highest level possible.
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Burma
1 year ago
User 1: I think A is true because there are no barriers to entry.
AD
Adolph
2 years ago
I agree with Hershel. B and D are clearly not true of a perfect competition market.
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Paulina
2 years ago
I'm not sure about C. I think it's A and D because in perfect competition, suppliers sell identical products.
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Hershel
2 years ago
A and C seem to be the correct answers here. No barriers to entry and competition at its highest level - that's the definition of perfect competition.
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Suzi
1 year ago
Suppliers selling differentiated products would not be a characteristic of perfect competition.
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Ivory
1 year ago
Competition is definitely at its highest level in perfect competition.
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Clay
1 year ago
In perfect competition, there are no barriers to entry.
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Edison
2 years ago
I agree, A and C are the correct answers.
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Marlon
2 years ago
I agree with Alton. In perfect competition, there should be no barriers to entry and competition should be at its highest level.
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Alton
2 years ago
I think A and C are true.