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zhuklara [117]
4 years ago
11

In a market characterized by ________, all firms must be small and the number of firms in the industry must be large. A. oligopo

ly B. stable competition C. monopolistic competition D. perfect competition
Business
1 answer:
olasank [31]4 years ago
7 0

Answer:

D. perfect competition

Explanation:

Perfects competition is a theoretical market structure where competition among firms is at the highest level possible. It is also known as pure competition. Due to the high level of competition, there are no dominant firms. Each firm will have a small proportion of the market share. Other characteristics of a pure competition market include,

1.  All firms sell a homogeneous or identical products

2. There are barriers to entry or exiting in the market

3.  All firms are price taker; no single entity can influence the prices

4.  There many very firms and seller in the markets

5.   Buyers have sufficient knowledge about the sellers and the market.

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The number of staffs that the process need on average, for the demand will be zero since the twelve staffs are well trained already.

<h3>What is demand?</h3>

Demand simply means the number of goods as services that an individual is willing to purchase at a price and given time.

Here, the number of staffs that the process need on average, for the demand will be zero since the twelve staffs are well trained already.

When a more automated process involving electronic submission of claims could reduce the average processing time to 15 minutes, the effect is that the profitability of the company will increase as there is more output due to reduced time.

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