Which of the following statements is false?
A) The perfectly competitive firm's demand curve is horizontal at the market price.
B) The theory of perfect competition is completely and accurately descriptive of most real-world firms.
C) If firm X does not strictly meet all the assumptions of the theory of perfect competition, but behaves as if it does, then the theory of perfect competition is relevant to it.
D) In perfect competition, the market price is established at the intersection of the market demand and market supply curves
Answers (1)
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “Which of the following statements is false? A) The perfectly competitive firm's demand curve is horizontal at the market price. B) The ...” in 📙 Business if there is no answer or all answers are wrong, use a search bar and try to find the answer among similar questions.
Search for Other Answers
You Might be Interested in
The CEO of Kwikee Shoppe, a chain of convenience stores, believes that some of his managers aren't making decisions as effectively as they could. He has hired you as a consultant to analyze the types of bias that could be causing poor decisions.
Answers (1)
A friend comes to you and asks you to invest in his business instead of investing in Treasury bonds. You think he has a good business model, so you tell him you are willing to invest as long as the expected return on the investment is at least four
Answers (1)
Kitchen Convenience Company manufactures two products - toaster ovens and bread machines. The following data are available: Toaster Ovens Bread Machines Sales price $100 $160 Variable costs $20 $70 Kitchen Convenience can manufacture six toaster
Answers (1)
What are the functions of a nation-state? select one: a. maintain order b. maintain armies c. collect taxes d. all of the above?
Answers (1)
1. what are the risks associated with fast internationalisation strategy for better generation? 2. How can better generation build these resources for fast internationalisation strategy? 3.
Answers (1)
New Questions in Business
During the Great Depression, consumer spending was higher than ever in history. Question 10 options: True False
Answers (2)
A property is being appraised by the cost approach. The appraiser estimates that the land is worth $17,000 and the replacement cost of the improvements is $235,000. Total depreciation from all causes is $23,000.
Answers (1)
NorthWest Corp. obtained the following information from its accounting records: Sales $70,000 Beginning Finished Goods Inventory $10,000 Ending Finished Goods Inventory $46,000 Cost of Goods Sold $22,000 Ending Work-in-Process Inventory $30,000
Answers (1)
Sally is buying a home and the closing date is set for April 20th. The annual property taxes are $1,234.00 and have not been paid yet. How much will the buyer be credited and the seller be debited?
Answers (1)
Throughout history, big business interests have almost always been at odds with environmentally friendly practices.
Answers (1)