A perfectly competitive market is characterized by many buyers and sellers, undifferentiated products, no transaction costs, no barriers to entry and exit, and perfect information about the price of a good. The total revenue for a firm in a perfectly competitive market is the product of price and quantity (TR = P * Q).
In a mercantilist system, a country tries to increase its "exports" and to decrease its "imports," since this means that the country is making more than its spending (at least in theory).
The correct answer for this question is "The rise of reform movements aimed at improving urban life." One result of the migration from farms to cities during the late 19th century and early 20th century is that the rise of reform movements aimed at improving urban life .
<span>
</span>
