The Following Graphs Depict a Perfectly Competitive Firm and Its

Multiple Choice

The following graphs depict a perfectly competitive firm and its market.
Assume that all firms in this industry have identical cost functions.
A starting assumption about this industry was that all of the firms had identical cost functions.This assumption

A) is unrealistic because all firms are unique.
B) is realistic because any cost advantage of one firm will be quickly adopted by the others.
C) is unrealistic because firms closely guard their production process secrets.
D) is unrealistic because competition forces all firms to seek the most efficient production processes.