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.
<span>the Missouri compromise </span>
Riley is in the pre-conventional stage of moral development.
According to the psychologist, Kohlberg, during the pre-conventional stage of moral development, individuals have not developed a personal moral code. Instead, individuals follow moral codes and actions based on what they have learned from their parents, teachers and other elders. Individuals in the pre-conventional stage of moral development make moral decisions that help them avoid punishment.
Answer:
True
Explanation:
<u>Decision making under certainty: </u>
It is the decision, maker known with reasonable certainty what the alternative and outcomes of each alternative, and outcomes of each alternative. Under the condition of certainty, accurate, measurable, and reliable information on that to base the decision is available.
<u>Decision making under risk: </u>
When a manager lacks perfect information or wherever an information asymmetry exists, the risk arises, Under a state of risk decision-maker has incomplete information about available alternatives but has a good idea of the probable outcomes of each alternative.
