Which of the Following Statements Is False

Multiple Choice

Which of the following statements is false?

A) The perfectly competitive firm's demand curve is horizontal at the market price.
B) The theory of perfect competition is completely and accurately descriptive of most real-world firms.
C) If Firm X does not strictly meet all the assumptions of the theory of perfect competition, but behaves as if it does, then the theory of perfect competition is relevant to it.
D) In perfect competition, the market price is established at the intersection of the market demand and market supply curves.