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.
Answer: A
Explanation:
Flying birds that rely on food on the ground will not get affected by an oil spill in the water. The polar bear will, because the seal might have oil on it and the polar bear would die. A penguin would die because fish would have oil on it too. Fish would die from the oil. The answer is A.
Answer: Intelligence Quotient
Explanation:
It is an individual's mental age divided by his chronological age expressed as a percentage.
Yes, because if it is not his/her self-interest they will not be able to work as hard as they can and won’t fully participate, while if they wanted to do it, they could go all out as it is something they want to achieve.
B is the answer because a Fraud is not an illegal use of political power for personal gain. Yeah
