Which of the Following Is True

Multiple Choice

Which of the following is true?

A) Since there are few firms that match the conditions assumed in perfect competition, the model is not very useful.
B) The model of perfect competition is a good example of the old adage, "That's O.K. in theory, but not in practice."
C) Although few world markets meet the assumptions of perfect competition, the model is useful in analyzing real world forces that affect prices and outputs.
D) The model of perfect competition comes very close to describing the real world.