Answer:
D. All of the above.
Explanation:
Their are many reasons why economists study the perfect competition model but we will focus on the options given and it is certified that all of them are the reason for this. Because it is used as a benchmark to compare with other market structures etc.
Firms can enter and leave the market without any restrictions , therefore, there is free entry and exit into and out of the market.
A perfectly competitive firm is known to be a price taker because the pressure of competing firms forces them to accept the prevailing equilibrium price in the market. If a firm in a perfectly competitive market raises the price of its product by so much as a penny, it will lose all of its sales to competitors.
Explanation:
2) encourage people to give their time and money to the war effort....
Georgia's involvement was 50% in World War 1
Philip should stop for a while and try to do an objective research on how the given problem is seen in the country, and then only would he be able to assess how he sees the situation, so as to better understand all the problems.
A plastic bag is used approximately 5 times before being thrown away.
